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| Heidrick & Struggles International, Inc. |
| 233 South Wacker Drive, Suite 4200, Chicago, IL 60606 * (312) 496-1200 |
| Business Description | The company is one of the leading global executive search firms based on revenues in the United States and the second largest firm in the world. |
| Offering Information Company has | |||
| Trading As | HSII (NYSE) | Industry | Service (SIC 7361) |
| Type of Stock Offered | Common Shares | Filing Date | 07/24/1998 |
| Domestic Shares Offered | 4,200,000 | Offer Date | 04/26/1999 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 4,200,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.980 |
| Gross Proceeds | $58,800,000 | Selling | $0.550 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 15,194,941 | Employees | 1276 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| 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 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 03/31/1997 | 03/31/1998 | ||
| Revenues | - | - | 108.685 | 137.665 | 180.244 | 39.973 | 45.937 |
| Income from Oper. | - | - | 10.617 | 10.712 | 11.945 | 1.440 | 0.827 |
| Net Income | - | - | 6.358 | 6.449 | 6.645 | 0.890 | 0.115 |
| E.P.S | - | - | 40.080 | 39.640 | 39.290 | 5.400 | 0.670 |
| Revenue Growth (%) | - | - | 26.66 | 30.929 | 14.92 | ||
| Net Income Growth (%) | - | - | 1.43 | 3.04 | -87.08 | ||
| Oper. Profit Margin (%) | - | - | 9.77 | 7.78 | 6.63 | 1.80 | 3.60 |
| Net Profit Margin (%) | - | - | 5.85 | 4.68 | 3.69 | 0.25 | 2.23 |
| Cash Flow - Oper. | 6.69 | 8.52 | 7.29 | ||||
| Cash Flow - Inv. | -9.19 | -2.04 | -4.09 | ||||
| Cash Flow - Fin. | 5.96 | 0.11 | 1.61 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1998 | Financial Ratios | ||||
| Total Assets | 107.93 | Current Assets | 69.48 | Current Ratio | 1.51 |
| Total Liab. | 59.64 | Current Liab. | 45.89 | Debt Ratio | 55.25% |
| Total Equity | 48.29 | Working Cap. | 23.59 | Debt to Equity Ratio | 1.23 |
| Cash | 14.94 | Return on Assets | 0.11% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund working capital and for general corporate purposes including expenditures for its IGIS technology enhancements, the possible opening of new offices, possible acquisitions and repayment of debt. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Simpson, Thacher & Bartlett |
| Bank's Law Firm | O'Melveny & Meyers |
| Auditor | Arthur Andersen |
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