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| Insurance Management Solutions Group, Inc. |
| 360 Central Avenue, St. Petersburg, FL 33701 * (813) 803-2040 |
| Business Description | The company provides comprehensive policy and claims outsourcing services to the property and casualty insurance industry, with an emphasis on providing these services to the flood insurance market, and flood zone determinations to insurance companies. |
| Offering Information Company has | |||
| Trading As | INMG (NASNTL) | Industry | Service (SIC 7389) |
| Type of Stock Offered | Common Shares | Filing Date | 06/25/1998 |
| Domestic Shares Offered | 3,350,000 | Offer Date | 02/10/1999 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 2,000,000 | Offer Price | $11.00 |
| Selling Shrhldrs Shares | 1,350,000 | Gross Spread | $0.770 |
| Gross Proceeds | $36,850,000 | Selling | $0.450 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | 800 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Raymond James & Associates, Inc. | Lead Manager | (813) 573-8108 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| 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 | 12/31/1997 | 03/31/1997 | 03/31/1998 | ||||
| Revenues | - | - | - | - | 38.506 | 8.803 | 10.946 |
| Income from Oper. | - | - | - | - | 5.699 | 1.381 | 1.451 |
| Net Income | - | - | - | - | 3.410 | 0.833 | 1.108 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | - | 24.34 | ||
| Net Income Growth (%) | - | - | - | - | 33.01 | ||
| Oper. Profit Margin (%) | - | - | - | - | 14.80 | 13.26 | 15.69 |
| Net Profit Margin (%) | - | - | - | - | 8.86 | 10.12 | 9.46 |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1998 | Financial Ratios | ||||
| Total Assets | 25.42 | Current Assets | 10.71 | Current Ratio | 0.92 |
| Total Liab. | 18.49 | Current Liab. | 11.62 | Debt Ratio | 72.74% |
| Total Equity | 6.93 | Working Cap. | -0.90 | Debt to Equity Ratio | 2.67 |
| Cash | - | Return on Assets | 4.36% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay outstanding indebtedness, and for general corporate purposes including capital expenditures for upgraded technology, working capital and possible acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Foley & Lardner |
| Bank's Law Firm | Powell, Goldstein, Frazer & Murphy |
| Registrar/Transfer Agent | Firstar Bank Milwaukee, N.A. |
| Auditor | Grant Thornton |
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