| Fulcrum Direct, Inc. | |||
| Proposed Ticker: | FLCM | 4321 Fulcrum Way NE | |
| Exchange: | NASDAQ-National Market | Rio Rancho, NM 87124-8447 | |
| Industry: | Retail (SIC Code 5961) | (505) 867-7000 | |
| Type of Shares: | Common Shares | Filing Date: | 3/10/97 | |
| U.S. Shares Filed: | 2,500,000 | Filing Range: | $10.00 - $12.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $27,500,000 | |
| Primary Shares: | 2,500,000 | Expenses: | $650,000 | |
| Secondary Shares: | 0 | Shares Out After: | 8,916,953 |
| Manager | Tier | Phone |
| Hambrecht & Quist Incorporated | Lead Manager | (415) 439-3626 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Issuer's Law Firm: | Kirkland & Ellis |
| Bank's Law Firm: | Cooley Godward Castro Huddleson & Tatum |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/28/96 | 12/28/96 | ||||
| Revenue: | $36.46 | Assets: | $25.90 | ||
| Net Income: | $0.61 | Curr Assets: | |||
| EPS: | $0.00 | Liabilities: | $17.77 | ||
| Prior EPS: | $0.05 | Curr Liabilities: | |||
| Cash Flow/Oper: | -$2.55 | Equity: | $8.13 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading direct marketer of proprietary children's apparel brands, including After the Stork, Playclothes, Little Feet, Sunskins and Discount Direct. The company's strategy is to continue to rapidly increase its market penetration by building a portfolio of brands targeting distinct segments of the children's apparel market. The company seeks to maximize the potential of each of its brands, introduce new brands and pursue strategic acquisitions in the fragmented and consolidating children's apparel catalog market. The believes its housefile of 3.0 million names, including 1.2 million active customers as of January 1997 is the largest among children's apparel catalog companies in the U.S. Since the company's inception in 1994 on a compounded annual basis, catalog circulation has increased by 18.4%, while net revenues have grown by 67.9%. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay the principal amount of subordinated debt, to purchase trademarks in connection with certain of the company's brands, to purchase the company's headquarters, call center and distribution center, to fund potential acquisitions and for working capital and general corporate purposes. |