| Ticker: RSTI | 45701 Mast Street | |
| Exchange: NASDAQ-National Market | Plymouth, Michigan 48170 | |
| Industry: Manufacturing | (313) 455-5400 |
| Type of Shares: | Common Shares | Filing Date: | 8/5/96 | |
| U.S. Shares: | 8,000,000 | Offer Date: | 9/25/96 | |
| Non-U.S. Shares: | 2,000,000 | Filing Range: | $8.50 - $10.50 | |
| Primary Shares: | 10,000,000 | Offer Price: | $9.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.57 | |
| Offering Amount: | $95,000,000 | Selling: | $0.33 | |
| Expenses: | $233,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,000,000 | |||
| Spin out parent firm: | Siemens | |||
| Manager | Tier | Phone |
| Deutsche Morgan Grenfell | Lead Manager | (212) 468-5000 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $92.47 | $83.37 | $65.46 | Assets: | $104.51 |
| Net Income: | $3.21 | $5.74 | $1.76 | Liabilities: | $63.56 |
| EPS: | Equity: | $40.95 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leader in the design, development, engineering, manufacture and marketing of laser products for cutting, welding and marking a wide range of industrial materials. Lasers are a non-contact technology for material processing which have several advantages that are desirable in industrial applications. The company's lasers all deliver a high-quality beam at guaranteed power outputs and feature compact design, high processing speed, flexibility, low operating and maintenance costs and easy integration into the customer's material processing requirements. The company believes it has a worldwide market share of approximately 20% for laser products used for cutting and welding applications and that it is among the largest suppliers of laser products used for marking applications in Europe and Asia/Pacific region. Over 80% of the company's sales in fiscal 1995 were made to existing customers. The company has sold more than 4,000 laser sources since 1975 and currently has over 1,500 active customers. |
| Use of Proceeds |
| The proceeds from the proposed offering will be paid by the company to Siemens and SPC as consideration for the company's acquisition of RSL and RSI; for general corporate purposes, including repayment of $7 million of indebtedness owed to Siemens and SC and future acquisitions. |
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