| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies | Company's Home Page |
| Integrated Sensor Solutions, Inc. |
| 625 River Oaks Parkway, San Jose, CA 95134 * (408) 324-1044 |
| The company designs, manufactures and markets high performance, intelligent sensor products that are used in electronic control systems by customers in the automotive and industrial markets. |
| Manager | Tier | Phone |
| Cruttenden Roth Incorporated | Lead Manager | (800) 678-9147 |
| Dougherty Summit Securities LLC | Co-manager |
| NASNTL: | ISNR | High-Tech: | SIC 3674 | |
| Type of Shares: | Common Shares | Filing Date: | 12/2/97 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 3/12/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $7.50 - $8.50 | |
| Primary Shares: | 2,500,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.56 | |
| Offering Amount: | $20,000,000 | Selling: | $0.30 | |
| Expenses: | $750,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | - | |||
| Employees: | 95 |
| Issuer's Law Firm: | Gray Cary Ware & Freidenrich |
| Bank's Law Firm: | Brobeck, Phleger & Harrison |
| Registrar/Transfer Agent: | U. S. Stock Transfer Corporation |
| Auditor: | Ernst & Young |
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 | ||
| 3/31/97 | 9/30/97 | 9/30/96 | 9/30/97 | ||
| Revenue: | $10.30 | $7.01 | $4.95 | Assets: | $8.74 |
| Net Income: | -$2.63 | $0.10 | -$1.32 | Curr Assets: | $6.87 |
| EPS: | -$0.56 | $0.02 | -$0.29 | Liabilities: | $4.28 |
| Prior EPS: | -$0.88 | -$0.73 | Curr Liab: | $4.02 | |
| Cash Flow/Oper: | -$2.72 | -$0.49 | $0.97 | Equity: | $4.47 |
| Cash Flow/Fin: | $5.35 | -$0.31 | -$0.44 | Cash: | $0.38 |
| Cash Flow/Inv: | -$1.09 | Working Cap: | $2.85 | ||
| Competition |
| The markets in which the Company competes are highly competitive and characterized by diverse industry requirements and severe pricing pressure in many applications. In the ASIC market, the Company competes with analog and mixed signal semiconductor companies such as Motorola, TI and Analog Devices. The Company's products also compete indirectly with conventional hybrid circuits and standard analog and mixed signal ICs. In the ISD market, the Company competes with Delco, a subsidiary of GM, Motorola, TI, Kavlico and Denso. These companies all have substantially greater financial, technical, manufacturing, marketing, distribution, personnel and other resources than the Company. In addition, in the industrial market, the Company competes with many small companies that have developed specialized electronic sensor products and formed close relationships with their customers. The Company also competes with the in-house development staff of certain of its current and potential customers. The Company anticipates that additional competitors may enter the Company's markets, resulting in even greater competition. Many of the Company's current or prospective competitors own or have investments in wafer foundries, which provide dedicated capacity to these competitors and enable them to influence or control costs more effectively than the Company. There can be no assurance that the Company will be able to compete successfully with existing or new competitors. Increased competition could result in significant price reductions or the loss of current or potential customers or design wins which could materially adversely affect the Company's business, financial condition or operating results. The Company believes that the principal competitive factors affecting its markets include price, supply assurance, product performance and quality, flexibility and responsiveness. The Company believes that it competes favorably with respect to these competitive factors. The Company's technology and products have been well accepted by leaders in the automotive and industrial markets. Through strategic alliances the Company is uniquely positioned to address the emerging needs of the market. Finally, the singular focus on sensor applications enables the Company to respond quickly to meet the customers' needs. |
| Business Plan |
| The Company's objective is to be a leading supplier of innovative and proprietary ASICs and ISDs for high performance electronic control systems. The key elements of the Company's strategy to achieve this objective are: (I) Expand and Leverage Strategic Alliances, (ii) Leverage Low Cost ISD Manufacturing Processes, (iii) Maintain Technological Leadership, (iv) Increase Product Offering and Penetrate New Markets and (v) Capitalize on fabless Semiconductor Model. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes, including repayment of indebtedness, expansion of manufacturing operations and working capital. |
| Name of Shareholder | % Owned Before | % Owned After |
| Breed Technologies, Inc. | 11.60% | |
| WK Technology Fund | 10.90% | |
| TDK Semiconductor Corporation | 9.70% | |
| Nagano Keiki Co., Ltd. | 6.10% | |
| Manher D. Naik | 5.30% |
| Officer Name | Title | Age |
| Donald E. Paulus | Chief Operating Officer | 40 |
| Ramesh Sirsi, Ph.D. | Exeucitve Vice President, Marketing and Sales | 53 |
| Manher D. Naik | President, Chief Executive Officer and Chairman of the Board of Directors | 54 |
| David Satterfield | Vice President, Finance and Administration | 45 |