| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies | Company's Home Page |
| Command Systems, Inc. |
| 76 Batterson Park Road, Farmington, CT 06032 * (860) 409-2000 |
| The company provides a wide range of information technology solutions and services to financial services organizations to support their evolving business processes. |
| Manager | Tier | Phone |
| Cowen & Company | Lead Manager | (212) 495-6000 |
| Volpe Brown Whelan & Company | Co-manager | (415) 274-4463 |
| NASNTL: | CMND | High-Tech: | SIC 7371 | |
| Type of Shares: | Common Shares | Filing Date: | 1/8/97 | |
| U.S. Shares: | 2,700,000 | Offer Date: | 3/12/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 2,400,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 300,000 | Gross Spread: | $0.84 | |
| Offering Amount: | $29,700,000 | Selling: | $0.47 | |
| Expenses: | $993,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 7,556,750 | |||
| Employees: | 17 |
| Issuer's Law Firm: | Mintz, Levin, Cohn, Ferris, Glovsky And Popeo |
| Bank's Law Firm: | Buchanan Ingersoll |
| Registrar/Transfer Agent: | Boston Equiserve Limited Partnership |
| Auditor: | Ernst & Young |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/96 | 9/30/97 | 9/30/96 | 9/30/97 | ||
| Revenue: | $17.07 | $17.74 | $12.56 | Assets: | $8.12 |
| Net Income: | -$0.42 | -$0.66 | $0.23 | Curr Assets: | |
| EPS: | -$0.09 | -$0.15 | $0.05 | Liabilities: | $6.68 |
| Prior EPS: | $0.05 | Curr Liab: | |||
| Cash Flow/Oper: | -$1.07 | Equity: | $1.44 | ||
| Cash Flow/Fin: | $2.25 | Cash: | $0.67 | ||
| Cash Flow/Inv: | -$0.95 | ||||
| Competition |
| The IT services market is highly competitive and fragmented and served by numerous international, national, regional and local firms. Primary competitors include other IT service providers, along with participants from a variety of market segments, including "Big Six" accounting firms, implementation firms, applications software firms, service groups of computer equipment companies, general management consulting firms, programming companies and temporary staffing firms, as well as in-house IT departments. In addition, a significant and increasing number of companies have recently announced that they offer Year 2000 solutions services or automated Year 2000 solutions software products. Many of the Company's competitors have significantly greater financial, technical and marketing resources and generate greater revenue than the Company, and there can be no assurance that the Company will not lose existing customers to such competitors. The Company believes that its ability to compete also depends in part on a number of factors outside its control, including the ability of its competitors to hire and retain professional and technical employees, the price at which others offer comparable services and the extent of its competitors' responsiveness to customer needs. |
| Business Plan |
| The Company's objective is to become the preferred provider of IT services to an expanding base of customers. The Company's strategies to achieve this objective include the following: (I) Cross-Sell Services to Existing Customers, (ii) Leverage Expertise in Insurance Market, (iii) Continue Migration to Higher Margin Services, (iv) Further Develop Offshore Technology Resource Center, (v) Continued Development of Long-Term Relationships with Customers and (vi) Attract, Train and Retain Highly Skilled IT Professionals. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the repayment of debt, the payment of accumulated and unpaid preferred stock dividends, expansion of sales and marketing capabilities and other general corporate purposes including working capital. |