| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| ICARUS International, Inc. |
| One Central Plaza 11300 Rockville Pike, Rockville, MD 20852 * (301) 881-9350 |
| The company develops automated desktop engineering software for the process manufacturing segments of the chemical, petroleum refining, pulp and paper, food and other industries. |
| Manager | Tier | Phone |
| Hoak Securities, Inc. | Lead Manager |
| NASNTL: | ICRS | High-Tech: | SIC 7372 | |
| Type of Shares: | Common Shares | Filing Date: | 2/10/98 | |
| U.S. Shares Filed: | 2,500,000 | Filing Range: | $7.00 - $9.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $0 | |
| Primary Shares: | 2,500,000 | Expenses: | $800,000 | |
| Secondary Shares: | 0 | Post-IPO Shares: | 5,500,000 | |
| Employees: | 58 |
| Issuer's Law Firm: | Elias, Matz, Tiernan & Herrick |
| Bank's Law Firm: | Locke, Purnell, Rain & Harrell |
| Registrar/Transfer Agent: | Registrar and Transfer Company, New Jersey |
| Auditor: | Grant Thornton |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 4/30/97 | 10/31/97 | 10/31/96 | 10/31/97 | ||
| Revenue: | $7.34 | $4.26 | $3.56 | Assets: | $5.27 |
| Net Income: | $0.66 | $0.34 | $0.35 | Curr Assets: | $4.26 |
| EPS: | $0.22 | $0.11 | $0.12 | Liabilities: | $3.77 |
| Prior EPS: | $0.06 | Curr Liab: | $3.18 | ||
| Cash Flow/Oper: | $1.21 | $0.65 | $0.75 | Equity: | $1.50 |
| Cash Flow/Fin: | -$0.11 | $0.01 | $0.00 | Cash: | $1.85 |
| Cash Flow/Inv: | -$0.25 | -$0.16 | -$0.07 | Working Cap: | $1.08 |
| Competition |
| The growing market for CAE software used in process manufacturing is intensely competitive and the Company's competitors include several companies that possess significantly greater financial, technical, marketing and other resources than ICARUS. The company's primary competition currently comes from customers and potential customers that have developed, or have the resources and capabilities to develop, their own process engineering, cost engineering and construction scheduling software solutions. The Company's direct third-party competitors include Timberline Software Corporation and a number of smaller private companies. To a lesser degree, ICARUS faces competition or potential competition from Aspen Technology, Simulation Sciences Inc. and ChemStations, Inc. The Company expects to face additional competition as other established and new companies enter the computer-aided engineering simulation and analysis software market and new products and technologies are introduced. Increased competition could result in price reductions, fewer customer orders, reduced gross margins and loss of market share, any of which could materially adversely affect the Company's business, operating results and financial condition. |
| Business Plan |
| The key elements of the Company's business strategy are as follows: (I) Leverage the Company's Existing Customer Base to Introduce New Integrated AutoDE Products; (ii) Continue to Maintain Technology Leadership by Developing Innovative AutoDE Software; (iii) Increase the Penetration of the Company's Products in the Pulp and Paper, Pharmaceutical, Power and Food Industries; (iv) Increase Its Consulting Efforts to Provide Integrated Turnkey Engineering Solutions; (v) Enter into Strategic Alliances That Accelerate Product Development and Enhance Marketing and Sales Opportunities and (vi) Pursue Acquisitions to Further Product Development, Sales and Marketing and Consulting Services. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to further the company's strategic goals by developing complementary AutoDE software products, expanding its engineering force, possible acquisition of complementary technologies or companies, and for general corporate purposes. |