| Advanced Communication Systems, Inc. | |||
| Ticker: | ACSC | 10089 Lee Highway | |
| Exchange: | NASDAQ-National Market | Fairfax, VA 22030 | |
| Industry: | High-Tech (SIC Code 7373) | (703) 934-8130 | |
| Type of Shares: | Common Shares | Filing Date: | 3/26/97 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 6/27/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.50 - $10.50 | |
| Primary Shares: | 1,850,000 | Offer Price: | $7.50 | |
| Secondary Shares: | 650,000 | Gross Spread: | $0.52 | |
| Offering Amount: | $23,750,000 | Selling: | $0.30 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 5,636,750 |
| Manager | Tier | Phone |
| A.G. Edwards & Sons, Inc. | Lead Manager | (314) 955-3039 |
| Ferris, Baker, Watts Inc. | Co-manager | (202) 429-3608 |
| Issuer's Law Firm: | Gibson, Dunn & Crutcher |
| Bank's Law Firm: | Hale and Dorr |
| Auditor: | Arthur Andersen |
| Registrar/Transfer Agent: | Continental Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/96 | 12/31/96 | 12/31/95 | 12/31/96 | ||
| Revenue: | $31.66 | $9.07 | $5.78 | Assets: | $13.64 |
| Net Income: | $1.16 | $0.33 | $0.23 | Curr Assets: | |
| EPS: | $0.27 | $0.08 | Liabilities: | $8.70 | |
| Prior EPS: | -$0.34 | -$0.84 | Curr Liabilities: | ||
| Cash Flow/Oper: | $0.17 | Equity: | $4.93 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company provides communications and information technology services and solutions, predominantly to U.S. government agencies and a to a lesser extent commercial and international customers. The company operates primarily in three interrelated areas: communication systems design and support, information technology services and systems integration. From its inception in 1987, the company has been a leader in military satellite communications, particularly for the U.S. Navy. Recently, using its information management capabilities in such areas as network and database design and support, the company has begun to expand its services to the U.S. military and to develop business with other federal agencies, state and local governments and commercial and international customers. Revenues have increased each year since fiscal 1987 and grew at a compound annual rate of 36.3% during the last five fiscal years, reaching $31.7 million for fiscal 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of debt, including debt incurred to finance S Corporation distributions, and general corporate purposes, including possible acquisitions. |