| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Sun Apparel, Inc. |
| 11201 Armour Drive, El Paso, TX 79935 * (915) 595-2800 |
| The company is a leading designer, manufacturer and distributor of jeanswear, sportswear, and related apparel for men, women and children under licensed brands, private label brands and company owned brands, the most prominent of which is POLO JEANS. |
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| Employees: | 5000 | Manufacturing: | SIC 2325 | |
| Type of Shares: | Common Shares | Filing Date: | 5/26/98 | |
| U.S. Shares Filed: | 0 | Filing Price: | - | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $100,000,000 | |
| Primary Shares: | 0 | Expenses: | - | |
| Secondary Shares: | 0 | Post-IPO Shares: |
| Issuer's Law Firm: | Skadden, Arps, Slate, Meagher & Flom |
| Bank's Law Firm: | Simpson, Thacher & Bartlett |
| Auditor: | Ernst & Young |
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: | $359.67 | $93.97 | $80.47 | Assets: | $178.28 |
| Net Income: | $23.37 | $3.79 | $6.46 | Curr Assets: | $132.01 |
| EPS: | Liabilities: | $260.93 | |||
| Prior EPS: | Curr Liab: | $55.16 | |||
| Cash Flow/Oper: | $28.65 | $7.72 | $6.03 | Equity: | -$82.64 |
| Cash Flow/Fin: | -$18.04 | -$8.47 | -$4.70 | Cash: | $0.54 |
| Cash Flow/Inv: | -$10.53 | -$2.45 | -$3.38 | Working Cap: | $76.85 |
| Competition |
| The apparel industry is highly competitive and the Company competes with numerous manufacturers of jeanswear, sportswear and casual apparel, including both brand name and private label producers. The Company's Polo Jeans Products compete with a number of designer product lines, including Calvin Klein, Tommy Hilfiger, Donna Karan and Guess?, as well as certain brand name products, including those manufactured by Levi Strauss & Co. and VF Corporation. The Company's Sun Division Products compete with products manufactured by numerous brand name and private label producers, as well as retailers that have established, or may establish, internal product development and sourcing capabilities. Certain of the Company's competitors have greater financial, manufacturing and other resources than the Company. Although factors may differ by product line, the Company believes that it competes primarily on the basis of brand image, quality of design and workmanship, price, advertising and its ability to respond quickly to the needs of retail customers. Any increased competition could result in reduced sales or prices, or both, which could have a material adverse effect on the Company's business, results of operations and financial condition. |
| Business Plan |
| The Company's core competencies position it to grow its existing businesses and attract additional opportunities in brand licensing and ownership and private label manufacturing. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness and for general corporate purposes. |