| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Hastings Entertainment, Inc. |
| 3601 Plains Blvd., Suite #1, Amarillo, TX 79102 * (806) 351-2300 |
| The company is a leading multimedia entertainment retailer that combines the sale of books, music, software, periodicals and videotapes with the rental of videotapes and video games in a superstore format. |
| Manager | Tier | Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 955-3039 |
| Furman Selz Incorporated | Co-manager | (212) 309-8285 |
| NASNTL: | HAST | Retail: | SIC 5942 | |
| Type of Shares: | Common Shares | Filing Date: | 3/13/98 | |
| U.S. Shares: | 3,380,000 | Offer Date: | 6/11/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 3,380,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.91 | |
| Offering Amount: | $50,700,000 | Selling: | $0.54 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Post-IPO Shares: | - |
| Issuer's Law Firm: | Locke, Purnell, Rain & Harrell |
| Bank's Law Firm: | Vinson & Elkins |
| Registrar/Transfer Agent: | ChaseMellon Shareholder Services, L.L.C. |
| Auditor: | KPMG Peat Marwick |
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 | ||
| 1/31/96 | 10/31/97 | 10/31/96 | 10/31/97 | ||
| Revenue: | $324.29 | $240.61 | $224.03 | Assets: | $214.85 |
| Net Income: | $3.80 | $3.43 | $0.15 | Curr Assets: | |
| EPS: | Liabilities: | $148.27 | |||
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | $28.85 | Equity: | $66.58 | ||
| Cash Flow/Fin: | $13.13 | Cash: | |||
| Cash Flow/Inv: | -$39.74 | Working Cap: | $62.44 | ||
| Competition |
| The entertainment retail industry is highly competitive. The Company competes with a wide variety of book retailers, music retailers, software retailers and videotape retailers that rent or sell videotapes, including independent single store operations, local multi-store operators, regional and national chains, as well as supermarkets, pharmacies, convenience stores, bookstores, mass merchants, mail order operations, warehouse clubs, record clubs, other retailers and various noncommercial sources such as libraries. With regard to its videotape sales and rental products in particular, the Company competes with cable, satellite and pay-per-view cable television systems. In addition, continuing technological advances that enhance the ability of consumers by home computer through the Internet or telephonic transmission to shop at home or access, produce and print written works or record music digitally could provide competition to the Company in the future. |
| Business Plan |
| The Company's goal is to enhance its position as a leading multimedia entertainment retailer by expanding existing stores, opening new stores in selected markets, and offering its products through the Internet. Each element of the Company's business strategy is designed to build consumer awareness of the company's concept and achieve high levels of customer loyalty and repeat business. The key elements of this strategy are the following: (I) Superior Multimedia Concept, (ii) Small to Medium-Sized Market Superstore Focus, (iii) Customer-Oriented Superstore Format, (iv) Cost-Effective Operations and (v) Low Pricing. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund the opening of new superstores and the expansion of existing superstores, to reduce indebtedness under the company's unsecured revolving credit facility and for general corporate purposes. |