| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Sprint Corporation |
| P.O. Box 11315, Kansas City, MO 64112 * (913) 624-3000 |
| The company markets its wireless telephony products and services under the Sprint and Sprint PCS brand names, operates and the only 100% digital personal communications services wireless network in the United States. |
| Manager | Tier | Phone |
| Warburg Dillon Read LLC | Lead Manager | |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| J.P. Morgan Securities Inc. | Co-manager | (212) 648-0517 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| NYSE: | PCS | Service: | SIC 4813 | |
| Type of Shares: | Common Stock Series 1 | Filing Date: | 9/25/98 | |
| U.S. Shares Filed: | 0 | Filing Price: | - | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $525,000,000 | |
| Primary Shares: | 0 | Expenses: | - | |
| Secondary Shares: | 0 | Post-IPO Shares: | ||
| Spin out parent firm: | Sprint Corporation | |||
| Employees: | 8900 | |||
| Issuer's Law Firm: | King & Spalding |
| Bank's Law Firm: | Cravath, Swaine & Moore |
| Registrar/Transfer Agent: | UMB Bank N.A. MO |
| Auditor: | Ernst & Young |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 6/30/98 | 6/30/97 | 6/30/98 | ||
| Revenue: | $18.50 | $0.00 | $0.00 | Assets: | $2,244.00 |
| Net Income: | -$419.10 | -$295.60 | -$138.70 | Curr Assets: | $22.60 |
| EPS: | Liabilities: | $1,295.00 | |||
| Prior EPS: | Curr Liab: | $271.30 | |||
| Cash Flow/Oper: | $37.50 | -$114.90 | $15.40 | Equity: | $949.00 |
| Cash Flow/Fin: | $982.20 | $732.90 | $536.80 | Cash: | |
| Cash Flow/Inv: | -$1,019.70 | -$618.00 | -$552.20 | Working Cap: | -$248.70 |
| Competition |
| There is substantial competition in the wireless telecommunications industry. The PCS Group expects competition to intensify as a result of the entrance of new competitors and the development of new technologies, products and services. Each of the markets in which the PCS Group competes is served by other two-way wireless service providers, including cellular and PCS operators and resellers. A majority of markets will have five or more CMRS service providers, and out of the top 50 metropolitan markets all have at least one other PCS competitor in addition to two cellular incumbents. Many of these competitors have been operating for a number of years, currently serve a substantial subscriber base and have significantly greater financial and technical resources than those available to the PCS Group and offer attractive pricing options for service and a wider variety of handset options. A major competitor recently introduced a nationwide flat-rate pricing plan that may be viewed as more attractive than the PCS Group plans. Competition also may increase to the extent that licenses are transferred from smaller stand-alone operations to larger, better capitalized and more experienced wireless communications operations that may be able to offer customers network features not offered by the PCS Group. |
| Use of Proceeds |
| Proceeds from the proposed offering will be distributed to selling shareholder, Sprint Corporation. |