| Ticker: XOMD | 6743 Southpoint Drive North | |
| Exchange: NASDAQ-National Market | Jacksonville, Florida 32216 | |
| Industry: Manufacturing | (904) 296-9600 |
| Type of Shares: | Common Shares | Filing Date: | 8/20/96 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 10/11/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $19.00 - $21.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $21.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.47 | |
| Offering Amount: | $50,000,000 | Selling: | $0.84 | |
| Expenses: | $1,475,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,864,379 | |||
| Spin out parent firm: | Warburg, Pincus Investors, L.P. | |||
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 727-1700 |
| UBS Securities Inc. | Co-manager | (212) 230-4000 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/29/96 | 7/1/95 | 6/29/96 | ||
| Revenue: | $59.87 | $32.94 | $29.42 | Assets: | $96.15 |
| Net Income: | $0.33 | -$3.17 | $0.43 | Liabilities: | $106.61 |
| EPS: | -$0.03 | -$0.82 | Equity: | -$10.46 | |
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 developer, manufacturer and marketer of surgical products for use by ear, nose and throat (ENT) specialists. The company offers a broad line of products in its core ENT market that includes powered tissue-removal systems and other microendoscopy instruments, implantable devices, nerve monitoring systems and disposable fluid-control products. The company also offers a line of ophthalmic and other products. For the first half of 1996, approximately 86% of the company's revenues were derived from disposable or implantable products. The company distributes its products worldwide through a 61-person direct sales force in the U.S. and selected other countries and through a network of 95 independent distributors. The company is the only major manufacturer and marketer of ENT surgical products with a direct U.S. sales force exclusively serving ENT specialists. Approximately 34% of the company's net sales was derived from international markets during the first half of 1996, as compared to 23% of its combined net sales in 1993. With over 25 years of industry experience, the company believes that it has established a long-standing reputation for innovative, high-quality products and is uniquely positioned as the only major surgical products company focused on the ENT market. |
| Use of Proceeds |
| The proceeds from the offering will be used for the repayment of outstanding indebtedness, redemption of preferred stock and, to the extent of an exercise of an exercise of the underwriter's over-allotment option, for working capital and general corporate purposes. |
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