| Ticker: | SUT | 1790 Broadway | |
| Exchange: | New York Stock Exchange | New York, New York 10019 | |
| Industry: | Manufacturing | (212) 757-3333 |
| Type of Shares: | Common Shares | Filing Date: | 8/9/96 | |
| U.S. Shares: | 6,000,000 | Offer Date: | 10/11/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 6,000,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.12 | |
| Offering Amount: | $96,000,000 | Selling: | $0.67 | |
| Expenses: | $700,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,024,048 | |||
| Spin out parent firm: | The Alpine Group, Inc. | |||
| Manager | Tier | Phone |
| Furman Selz Incorporated | Lead Manager | (212) 309-8200 |
| BT Securities Corporation | Co-manager | (212) 250-5000 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Auditor: Arthur Andersen | |||||
| 3 Month Ending Financials | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 4/28/96 | 7/28/96 | 7/29/95 | 7/28/96 | ||
| Revenue: | $410.41 | $123.82 | $99.32 | Assets: | $232.36 |
| Net Income: | $8.11 | $5.97 | $1.67 | Liabilities: | $174.93 |
| EPS: | $0.67 | $0.50 | $0.14 | Equity: | $57.43 |
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 manufacturer of copper wire and cable products for the local loop segment of the telecommunications network. The local loop is the segment of the telecommunications network that connects the customer's premises to the nearest telephone company switch or central office. Copper wire and cable is the most widely used medium for transmission in the local loop, which comprises approximately 160 million residential and business access lines in the United States. The company also develops and manufactures data communications and other electronic equipment, including multiplexers, for defense, government and commercial applications. As a result of acquisitions, as well as internal growth through expansion of its customer relationships and introductions of new products, the company's net sales increased from $164.5 million in fiscal 1995 to $410.4 million in fiscal 1996, and operating income increased from $9.6 million to $31.8 million over the same period. |
| Use of Proceeds |
| The proceeds from the offering will be used to complete the reorganization and related transactions and for working capital purposes. |
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