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| Datalink Corporation |
| 7423 Washington Avenue South, Minneapolis, MN 55439 * (612) 944-3462 |
| Business Description | The company analyzes, custom designs, integrates or assembles, installs and supports high-end Open Systems data storage solutions for end-users, value-added resellers and original equipment manufacturers. |
| Offering Information Company has | |||
| Trading As | DTLK (NASNTL) | Industry | High-Tech (SIC 7373) |
| Type of Stock Offered | Common Shares | Filing Date | 06/03/1998 |
| Domestic Shares Offered | 2,600,000 | Offer Date | 08/06/1999 |
| Foreign Shares Offered | 0 | Filing Range | $8.00 - $10.00 |
| Company Shares | 2,600,000 | Offer Price | $7.50 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $19,500,000 | Selling | - - |
| Expenses | $500,000 | Reallowance | - - |
| Post-IPO Shares | 9,500,000 | Employees | 77 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Needham & Company | Lead Manager | (212) 705-0344 |
| Cruttenden Roth Incorporated | Co-manager | (800) 678-9147 |
| John G. Kinnard | Co-manager | (612) 370-2844 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1993 | 12/31/1994 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 03/31/1997 | 03/31/1998 |
| Revenues | 24.146 | 32.333 | 38.048 | 54.652 | 71.255 | 15.266 | 16.599 |
| Income from Oper. | - | - | - | - | 6.409 | 1.077 | 1.173 |
| Net Income | 1.021 | 2.037 | 2.314 | 4.872 | 6.076 | 1.004 | 1.118 |
| E.P.S | 0.150 | 0.300 | 0.340 | 0.710 | 0.880 | 0.150 | 0.160 |
| Revenue Growth (%) | 33.91 | 17.68 | 43.64 | 30.379 | 8.73 | ||
| Net Income Growth (%) | 99.51 | 13.60 | 110.54 | 24.71 | 11.35 | ||
| Oper. Profit Margin (%) | - | - | - | - | 8.99 | 7.07 | 7.05 |
| Net Profit Margin (%) | 4.23 | 6.30 | 6.08 | 8.91 | 8.53 | 6.74 | 6.58 |
| Cash Flow - Oper. | 4.56 | 0.56 | 2.57 | ||||
| Cash Flow - Inv. | -0.77 | -0.20 | -0.25 | ||||
| Cash Flow - Fin. | -2.85 | 0.22 | -3.34 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1998 | Financial Ratios | ||||
| Total Assets | 15.44 | Current Assets | 13.72 | Current Ratio | 1.94 |
| Total Liab. | 21.97 | Current Liab. | 7.06 | Debt Ratio | 142.33% |
| Total Equity | -6.53 | Working Cap. | 6.66 | Debt to Equity Ratio | - |
| Cash | 0.14 | Return on Assets | 7.24% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to distribute to the current stockholders the previously taxes, but undistributed, S Corporation earnings, repay certain outstanding indebtedness, fund the company's growth and expansion plans, including potential acquisitions, working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Messerli & Kramer P.A. |
| Bank's Law Firm | Kaplan, Strangis and Kaplan, P.A. |
| Registrar/Transfer Agent | Norwest Bank of Minnesota |
| Auditor | Coopers & Lybrand |
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| Industry Competition |
The market for Open Systems storage is intensely competitive. The Company competes primarily with traditional suppliers of computer systems such as Compaq Computer Corporation ("Compaq"), Digital Equipment Corporation ("Digital"), Hewlett-Packard Company ("Hewlett-Packard"), International Business Machines Corp. ("IBM"), Silicon Graphics, Inc. ("Silicon Graphics") and Sun Microsystems, Inc. ("Sun"), which market storage systems as well as other computer products. The Company also competes with independent storage system suppliers to the high-end Open Systems market, including Box Hill Systems Corp., EMC Corporation, MTI Technology Corporation and numerous VARs, resellers, distributors and consultants. In addition, the Company's customers and prospective customers may elect to develop in-house storage systems expertise. |
| Business Plan |
Key elements of this strategy are: (I) Leverage Market Presence, (ii) Maintain Technological Leadership, (iii) Develop Professional Consulting Services, (iv) Expand Geographically and (v) Maintain Superior Service and Support. |