| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Adams Golf, Inc. |
| 300 Delaware Avenue, Suite 548, Wilmington, DE 19801 * (302) 427-5892 |
| The company designs, manufactures and markets premium quality, technologically innovative golf clubs. |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Ferris, Baker, Watts Inc. | Co-manager | (202) 429-3608 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| NASNTL: | ADGO | Manufacturing: | SIC 3949 | |
| Type of Shares: | Common Shares | Filing Date: | 5/4/98 | |
| U.S. Shares: | 6,000,000 | Offer Date: | 7/9/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 3,750,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 2,250,000 | Gross Spread: | $1.12 | |
| Offering Amount: | $90,000,000 | Selling: | $0.65 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Post-IPO Shares: | - | |||
| Employees: | 234 |
| Issuer's Law Firm: | Arter & Hadden |
| Bank's Law Firm: | Cooley Godward Castro Huddleson & Tatum |
| Registrar/Transfer Agent: | Bank of New York |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 3/31/98 | 3/31/97 | 3/31/98 | ||
| Revenue: | $36.69 | $24.51 | $1.48 | Assets: | $25.79 |
| Net Income: | -$4.65 | $5.64 | $0.04 | Curr Assets: | $23.20 |
| EPS: | -$0.37 | $0.32 | Liabilities: | $11.13 | |
| Prior EPS: | Curr Liab: | $10.90 | |||
| Cash Flow/Oper: | $1.10 | -$1.47 | -$0.30 | Equity: | $14.67 |
| Cash Flow/Fin: | $0.77 | $1.83 | $0.25 | Cash: | $0.60 |
| Cash Flow/Inv: | -$0.77 | -$1.72 | -$0.05 | Working Cap: | $12.30 |
| Competition |
| The Company competes with a number of established golf club manufacturers, many of which have greater financial and other resources than the Company. Adams' competitors include Callaway Golf Company, adidas-Salomon AG (Taylor Made) and Fortune Brands, Inc. (Titleist and Cobra). The Company competes primarily on the basis of performance, brand name recognition, quality and price. The Company believes that its ability to market its products through multiple distribution channels, including on- and off-course golf shops, selected sporting goods retailers and through direct response advertising, is important to its ability to compete. The golf club industry is generally characterized by rapid and widespread imitation of popular technologies, designs and product concepts. Due to the success of the Tight Lies fairway woods, the Company expects that one or more competitors may introduce products similar to the Tight Lies fairway woods. The buying decisions of many purchasers of golf clubs are often the result of highly subjective preferences which can be influenced by many factors, including, among others, advertising media, promotions and product endorsements. The Company may face competition from manufacturers introducing other new or innovative products or successfully promoting golf clubs that achieve market acceptance. The failure to compete successfully in the future could result in a material deterioration of customer loyalty and the Company's image and could have a material adverse effect on the Company's business, operating results or financial condition. |
| Business Plan |
| The Company's goal is to establish itself as a leading developer of technologically innovative, performance-oriented golf clubs. The Company's strategy to achieve this goal includes the following elements: (I) Building Market Share in Fairway Woods, (ii) Leveraging Consumer Acceptance of Tight Lies Brand, (iii) Expanding International Sales and (iv) Developing New Technologies and Product Designs. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for working capital and general corporate purposes. |