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| AremisSoft Corporation |
| 60 Bishopsgate, London, United Kingdom EC2N 4AJ |
| Business Description | The company designs, markets, implements and supports enterprise-wide applications software targeted to mid-sized organizations in the healthcare, manufacturing, hospitality and construction industries. |
| Offering Information Company has | |||
| Trading As | AREM (NASNTL) | Industry | High-Tech (SIC 7372) |
| Type of Stock Offered | Common Shares | Filing Date | 07/01/1998 |
| Domestic Shares Offered | 3,300,000 | Offer Date | 04/21/1999 |
| Foreign Shares Offered | 0 | Filing Range | $5.00 - $7.00 |
| Company Shares | 3,300,000 | Offer Price | $5.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.400 |
| Gross Proceeds | $16,500,000 | Selling | $0.220 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 13,300,051 | Employees | 520 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Cruttenden Roth Incorporated | Lead Manager | (800) 678-9147 |
| 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 | 2.670 | 6.449 | 21.422 | 34.432 | 42.374 | 7.162 | 10.096 |
| Income from Oper. | - | - | - | - | 0.310 | -1.244 | 0.705 |
| Net Income | -0.821 | -2.967 | -14.569 | -15.304 | -1.620 | -1.772 | 0.248 |
| E.P.S | - | -0.060 | -0.230 | -1.130 | -0.130 | -0.140 | 0.020 |
| Revenue Growth (%) | 141.54 | 232.18 | 60.73 | 23.066 | 40.97 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | 0.73 | 6.98 | - |
| Net Profit Margin (%) | - | - | - | - | - | 2.46 | - |
| Cash Flow - Oper. | -4.03 | -0.86 | -3.63 | ||||
| Cash Flow - Inv. | -0.97 | - | -0.29 | ||||
| Cash Flow - Fin. | 4.53 | -0.11 | 8.84 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1998 | Financial Ratios | ||||
| Total Assets | 24.06 | Current Assets | 20.41 | Current Ratio | 0.86 |
| Total Liab. | 33.94 | Current Liab. | 23.68 | Debt Ratio | 141.08% |
| Total Equity | -9.88 | Working Cap. | -3.27 | Debt to Equity Ratio | - |
| Cash | 5.27 | Return on Assets | 1.03% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay indebtedness, for general corporate purposes and to fund potential investments and acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Pillsbury Madison & Sutro |
| Bank's Law Firm | Jones, Day, Reavis & Pogue |
| Registrar/Transfer Agent | Olde Monmouth Stock Transfer Co., Inc. |
| Auditor | Ernst & Young |
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| Industry Competition |
The market for enterprise-wide applications software is intensely competitive, fragmented, subject to rapid changes and significantly affected by new product introductions and other market activities of industry participants. The Company's products are primarily designed for and marketed to mid-sized organizations in the Vertical Markets. A number of companies offer competitive products to organizations in the Vertical Markets. In addition, the Company faces indirect competition from suppliers of customized enterprise-wide applications software primarily designed for proprietary mainframe and minicomputer-based systems with highly customized software and the internal MIS departments of large organizations who develop their own systems. Many of the Company's present or potential competitors have longer operating histories, significantly greater financial, technical, marketing and other resources, greater name recognition and a larger installed base of customers than the Company. As a result, they may be able to respond more quickly than the Company to new or emerging technologies and to changes in customer requirements, or they may be able to devote greater resources to the development, promotion and sale of their products. |
| Business Plan |
The Company's business strategy is to continue its growth by (i) targeting mid-sized organizations, including divisions and business units of larger companies, with annual revenues of less than $1 billion, (ii) focusing on strategic markets, (iii) leveraging the Company's cost-efficient India operations, (iv) capitalizing on the Company's investment in the Aremis Architecture, (v) expanding the Company's marketing, sales, support and service capabilities and (vi) acquiring related software businesses, products or technologies. |