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| Corinthian Colleges, Inc. |
| 6 Hutton Centre Drive, Suite 400, Santa Ana, CA 92707 * (714) 427-3000 |
| Business Description | The company is one of the largest proprietary post-secondary education companies in the U.S. with more than 14,000 students as of March 31, 1998. |
| Offering Information Company has | |||
| Trading As | COCO (NASNTL) | Industry | Service (SIC 8249) |
| Type of Stock Offered | Common Shares | Filing Date | 07/21/1998 |
| Domestic Shares Offered | 2,700,000 | Offer Date | 02/04/1999 |
| Foreign Shares Offered | 0 | Filing Range | $16.00 - $18.00 |
| Company Shares | 2,700,000 | Offer Price | $18.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.260 |
| Gross Proceeds | $48,600,000 | Selling | $0.760 |
| Expenses | $2,000,000 | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | 2000 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| CS First Boston | Co-manager | (212) 325-2000 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6220 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 06/30/1997 | 03/31/1997 | 03/31/1998 | ||||
| Revenues | - | - | - | - | 77.201 | 54.331 | 78.627 |
| Income from Oper. | - | - | - | - | -0.467 | 1.334 | 3.978 |
| Net Income | - | - | - | - | -2.003 | -0.325 | 0.666 |
| E.P.S | - | - | - | 0.150 | -0.320 | -0.050 | 0.100 |
| Revenue Growth (%) | - | - | - | - | 44.72 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | 5.06 | 2.46 |
| Net Profit Margin (%) | - | - | - | - | - | 0.85 | - |
| Cash Flow - Oper. | 1.00 | 0.70 | -4.02 | ||||
| Cash Flow - Inv. | -30.97 | -30.47 | -1.46 | ||||
| Cash Flow - Fin. | 30.98 | 29.18 | 2.66 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1998 | Financial Ratios | ||||
| Total Assets | 55.46 | Current Assets | 16.45 | Current Ratio | 1.08 |
| Total Liab. | 48.40 | Current Liab. | 15.20 | Debt Ratio | 87.25% |
| Total Equity | 7.07 | Working Cap. | 1.24 | Debt to Equity Ratio | 6.85 |
| Cash | 0.76 | Return on Assets | 1.20% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of indebtedness, redemption of outstanding preferred stock and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | O'Melveny & Meyers |
| Bank's Law Firm | Gibson, Dunn & Crutcher |
| Auditor | Arthur Andersen |
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