| Schuff Steel Company | |||
| Ticker: | SHUF | 420 South 19th Avenue | |
| Exchange: | NASDAQ-National Market | Phoenix, AZ 85009 | |
| Industry: | Construction (SIC Code 1791) | (602) 252-7787 | |
| Type of Shares: | Common Shares | Filing Date: | 5/8/97 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 6/30/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.56 | |
| Offering Amount: | $20,000,000 | Selling: | $0.32 | |
| Expenses: | $675,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,200,000 |
| Manager | Tier | Phone |
| Principal Financial Securities, Inc. | Lead Manager | (214) 880-8083 |
| Issuer's Law Firm: | Snell & Wilmer |
| Bank's Law Firm: | Blackwell Sanders Matheny Weary & Lombardi |
| Auditor: | Ernst & Young |
| Registrar/Transfer Agent: | Harris Trust Company of California |
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 | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $103.91 | $25.51 | $10.41 | Assets: | $48.16 |
| Net Income: | $6.03 | $1.06 | $0.33 | Curr Assets: | |
| EPS: | $1.16 | $0.20 | $0.06 | Liabilities: | $36.72 |
| Prior EPS: | $0.28 | $0.25 | $3.88 | Curr Liabilities: | |
| Cash Flow/Oper: | $14.39 | Equity: | $11.44 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a rapidly growing steel fabrication and erection firm that provides a fully integrated range of steel construction services. The company operates primarily in the southwestern United States with a concentration in Arizona, Nevada and southern California, and has recently expanded its operations into South America and Mexico. The company is the largest steel fabrication and erection firm serving the Arizona industrial and commercial markets, a position it recently enhanced with the 1997 acquisition of B&K; Steel Fabrications, Inc. The company also believes tat it is the leading steel fabricator and erector for the hotel and casino industry in Nevada. Engineering News Record ranked the company as the second largest steel erection subcontractor in the United States based upon 1994 revenues. The company has achieved significant growth in revenues and pre-tax income over the past five years. Revenues have more than doubled from $47.0 million in 1992 to $103.9 million in 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will for purchase of specialized equipment, funding of the subchapter S distribution to the company's present stockholders, and general corporate purposes. |