| ASI Solutions, Inc. | |||
| Ticker: | ASIS | 780 Third Avenue | |
| Exchange: | NASDAQ-Small Cap Market | New York, NY 10017 | |
| Industry: | Service (SIC Code 7361) | (212) 319-8400 | |
| Type of Shares: | Common Shares | Filing Date: | 1/24/97 | |
| U.S. Shares: | 1,800,000 | Offer Date: | 4/15/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $6.00 - $6.50 | |
| Primary Shares: | 1,800,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.42 | |
| Offering Amount: | $11,250,000 | Selling: | $0.25 | |
| Expenses: | $700,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,825,158 |
| Manager | Tier | Phone |
| H.C. Wainwright & Co. Inc. | Lead Manager | (617) 589-9482 |
| Issuer's Law Firm: | Koerner Silberberg & Weiner, LLP |
| Bank's Law Firm: | Goodwin Procter & Hoar |
| Auditor: | Coopers & Lybrand |
| Registrar/Transfer Agent: | Bank of New York |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/96 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $10.56 | $8.05 | $5.39 | Assets: | $4.97 |
| Net Income: | $0.73 | $0.76 | $0.53 | Curr Assets: | |
| EPS: | $0.16 | $0.16 | $0.11 | Liabilities: | $2.89 |
| Prior EPS: | $0.04 | $0.17 | $0.23 | Curr Liabilities: | |
| Cash Flow/Oper: | $0.29 | Equity: | $2.09 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading national provider of a comprehensive range of human resources outsourcing services for large organizations seeking to hire, train and develop a higher quality, more effective workforce. The company's services are organized into four core areas; assessment and selection, training and development, customer contact monitoring and employment process administration. The company believes these services position the company as a single-source solution for many organizations which outsource all or a portion of their human resources functions. The company markets its services principally to Fortune 500 companies for which customer service, sales and call center functions are critical components of their businesses. Industries served by the company include telecommunications, financial services, information technology, consumer products and healthcare. The company's assessment and selection services entail designing and implementing assessment processes for the selection of new hires and for the evaluation of existing employees for advancement to positions of increased responsibility. |
| Competition |
| The company believes that the human resources industry is highly fragmented and that no one participant or small number of participants is dominant in the industry. The principal competition encountered by the company across the full range of services provided by the company are human resources consulting firms, smaller companies who are specialized providers of certain services provided by the company and consulting firms that are affiliated with large multinational accounting firms. |
| Business Plan |
| The company's objective is to strengthen its position as a leading provider of its services in support of a range of human resources outsourcing functions. Key elements of the company's business strategy to achieve this objective include: 1) increase penetration of existing clients; 2) develop new clients; 3) expand customer contact monitoring services; 4) expand existing services beyond the sales and customer services. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness and for general corporate purposes including working capital, capital expenditures and possible acquisitions. |