| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| American Marine Recreation, Inc. |
| 1924 33rd Street, Orlando, FL 32834 * (407) 422-8141 |
| The Company is one of the largest retailers of recreational boats in Florida where it currently operates six retail locations, including locations in Orlando, Jacksonville, Doctor's Lake, Melbourne, Tierra Verde and Pinellas Park. |
| Manager | Tier | Phone |
| Bluestone Capital Partners, L.P. | Lead Manager | (212) 850-9428 |
| Royce Investment Group, Inc. | Co-manager | (516) 393-8300 |
| NASNTL: | AMRI | Retail: | SIC 5551 | |
| Type of Shares: | Common Shares | Filing Date: | 9/1/98 | |
| U.S. Shares Filed: | 2,180,000 | Filing Range: | $8.50 - $9.50 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $19,620,000 | |
| Primary Shares: | 2,180,000 | Expenses: | $950,000 | |
| Secondary Shares: | 0 | Post-IPO Shares: | 4,122,000 | |
| Employees: | 117 |
| Issuer's Law Firm: | McLaughlin & Stern Alkalay Handler Robbins Herman |
| Bank's Law Firm: | Tenzer, Greenblatt, Fallon & Kaplan |
| Registrar/Transfer Agent: | Continental Stock Transfer & Trust Co |
| Auditor: | BDO Seidman |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/97 | 12/31/98 | 12/31/97 | 6/30/98 | ||
| Revenue: | $21.23 | $14.00 | $10.96 | Assets: | $14.35 |
| Net Income: | $0.51 | $1.03 | $1.08 | Curr Assets: | $11.50 |
| EPS: | $0.19 | $0.39 | Liabilities: | $12.33 | |
| Prior EPS: | -$1.17 | $0.48 | Curr Liab: | $10.80 | |
| Cash Flow/Oper: | -$1.25 | $2.31 | -$0.42 | Equity: | $2.02 |
| Cash Flow/Fin: | $1.39 | -$0.14 | -$0.06 | Cash: | $1.31 |
| Cash Flow/Inv: | -$0.18 | Working Cap: | $0.70 | ||
| Competition |
| The Company operates in a highly competitive environment. In addition to facing competition generally from businesses seeking to attract discretionary spending dollars, the recreational boat industry itself is highly fragmented, resulting in intense competition for customers, access to quality products, access to boat show space in new markets and suitable retail locations. The Company relies heavily on boat shows to generate sales. If the Company is impeded in its ability to participate in boat shows in its existing or targeted markets, it could have a material adverse effect on the Company's business, financial condition and operating results. The Company competes primarily with single-location boat dealers and national or regional chains and, with respect to sales of marine parts, accessories and equipment, with national specialty marine parts and accessories stores, catalog retailers, sporting goods stores and mass merchants. Dealer competition continues to increase based on the quality of available products, the price and value of the products and attention to customer service. There is significant competition both within markets currently being served by the Company and in the new markets that the Company plans to enter. |
| Business Plan |
| The Company's operating strategy is to maximize its profits by increasing its operating efficiencies and through the structured application of management's proven operating philosophies, key elements of which are set forth below: 1) Operate with Centralized Management 2) Increase Operating Efficiencies 3) Maintain a Diverse Product Line 4) Focus on Consumer Loyalty and Satisfaction. The Company's growth strategy is to continue increasing sales at its existing stores while expanding its current store base through the further development of its existing markets and by entering new markets. Initially, the Company intends to focus its plans for expansion in the southeastern United States, primarily in Florida, North Carolina, South Carolina, Georgia and Alabama. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the acquisition and construction of additional boat dealerships, the construction of a boat storage facility, the payment of the Final S Corporation distribution, the purchase of inventory, the upgrading of management information systems, the expansion of the Orlando superstore's service department and working capital and general corporate purposes. |