| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| American Architectural Product Corporation |
| 755 Boardman Canfield Road South Bridge Executive Center Building G West, Boardman, OH 44512 * (330) 965-9910 |
| The Company is a leading national manufacturer and distributor of a broadly diversified line of windows, doors and related products designed to meet a variety of residential and commercial consumer demands in both the new construction and remodeling mkts |
| Manager | Tier | Phone |
| McDonald & Company Securities, Inc. | Lead Manager | (216) 443-2370 |
| Wheat First Union | Co-manager |
| NASNTL: | AAPC | Manufacturing: | SIC 2431 | |
| Type of Shares: | Common Shares | Filing Date: | 5/22/98 | |
| U.S. Shares Filed: | 6,700,000 | Filing Range: | $14.00 - $16.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $100,500,000 | |
| Primary Shares: | 6,700,000 | Expenses: | - | |
| Secondary Shares: | 0 | Post-IPO Shares: | ||
| Employees: | 2100 |
| Issuer's Law Firm: | Squire, Sanders & Dempsey |
| Bank's Law Firm: | Benesch Friedlander Coplan & Aronoff |
| Registrar/Transfer Agent: | American Securities Transfer, Inc |
| Auditor: | BDO Seidman |
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: | $192.40 | $45.61 | $16.64 | Assets: | $161.15 |
| Net Income: | -$5.63 | -$2.61 | -$0.52 | Curr Assets: | $70.77 |
| EPS: | -$0.42 | -$0.19 | -$0.04 | Liabilities: | $158.04 |
| Prior EPS: | -$0.10 | Curr Liab: | $26.00 | ||
| Cash Flow/Oper: | $1.45 | -$1.87 | -$2.31 | Equity: | $3.12 |
| Cash Flow/Fin: | $92.03 | -$0.29 | $3.18 | Cash: | $23.42 |
| Cash Flow/Inv: | -$54.32 | -$14.55 | -$1.21 | Working Cap: | $44.76 |
| Competition |
| The Company has numerous competitors in the fenestration products market, at both the manufacturing and the distribution levels. Certain of the Company's principal competitors have substantially less leverage than the Company, have greater financial and other resources, and have greater brand recognition. Accordingly, such competitors may be better able to withstand changes in conditions within the industries in which the Company operates and have significantly greater operating and financial flexibility than the Company. As a result of the competitive environment in the markets in which the Company operates, the Company faces (and will continue to face) pressure on sales prices of its products from competitors, as well as from large customers. As a result of such pricing pressures, the Company may experience future reductions in the profit margins on its sales, or may be unable to pass future raw material price or labor cost increases on to its customers (which would also reduce profit margins). In addition, there can be no assurance that the Company will not encounter increased competition in the future, which could have a material adverse effect on the Company's business. |
| Business Plan |
| The Company's objective is to become the leading national manufacturer and distributor of a diversified line of fenestration products. By utilizing its extensive product mix, national marketing strategy, distribution strength and economies of scale, the Company will be able to continue to successfully differentiate itself from its smaller, less sophisticated competitors. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for future acquisitions and working capital and general corporate purposes. |