| Ticker: LSON | 1305 Stephenson Highway | |
| Exchange: NASDAQ-National Market | Troy, Michigan 48043 | |
| Industry: Service | (810) 597-5800 |
| Type of Shares: | Common Shares | Filing Date: | 8/8/96 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 10/9/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.50 - $16.50 | |
| Primary Shares: | 3,000,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.19 | |
| Offering Amount: | $46,500,000 | Selling: | $0.68 | |
| Expenses: | $1,300,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,149,246 |
| Manager | Tier | Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| William Blair & Company | Co-manager | (312) 236-1600 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $46.61 | $27.09 | $23.70 | Assets: | $40.69 |
| Net Income: | $2.01 | $1.72 | $1.58 | Liabilities: | $29.58 |
| EPS: | $0.33 | $0.28 | $0.25 | Equity: | $11.11 |
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 leading provider of integrated outsourcing services for records management, document management and business communications. The investments the company has made in imaging and communications technology, personnel, equipment and systems over the past decade have given it the capabilities and expertise to meet the growing and increasingly complex document management requirements of its customers. The company primarily services customers in the manufacturing, healthcare, financial services and professional services industries. The company's core competencies in input processing, data management and output processing enable it to provide a broad range of services across a wide range of media types, allowing customers to fulfill their document management outsourcing needs with a single vendor. The company has increased its annual net revenues from approximately $1 million at the time of its founding in 1985 to $46.6 million for the year ended December 31, 1995. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness under the company's credit agreement, to redeem a portion of its capital stock and for general corporate purposes, including working capital and financing of possible acquisitions. |
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