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Delphi Automotive Systems Corporation
5725 Delphi Drive, Troy, MI 48098 * (248) 813-2000
Business Description The company is the world's largest and most diversified supplier of components, integrated systems and modules to the automotive industry, with 1997 revenues of $31.4 billion.
Offering
Information

Company has
gone public

Trading As  DPH (NYSE) Industry  Manufacturing (SIC 3714)
Type of Stock Offered  Common Shares Filing Date  11/16/1998
Domestic Shares Offered  100,000,000 Offer Date  02/04/1999
Foreign Shares Offered  0 Filing Range  $15.00 - $18.00
Company Shares  100,000,000 Offer Price  $17.00
Selling Shrhldrs Shares  0 Gross Spread  $0.789
Gross Proceeds  $1,700,000,000 Selling  $0.460
Expenses  - - Reallowance  $0.100
Post-IPO Shares  - - Employees  - -
Spun out from General Motors Corporation
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
Morgan Stanley Dean Witter Discover & Co. Lead Manager (212) 761-5900
Donaldson, Lufkin & Jenrette Securities Corp. Co-manager (212) 371-0641
Merrill Lynch & Co. Co-manager (212) 449-4600
Schroder Wertheim & Company, Incorporated Co-manager (212) 492-6900
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 12/31/1993 12/31/1994 12/31/1995 12/31/1996 12/31/1997 09/30/1997 09/30/1998
Revenues   29,327.000 31,044.000 31,661.000 31,032.000 31,447.000 23,368.000 20,679.000
Income from Oper.   1,763.000 2,084.000 2,138.000 1,273.000 352.000 1,229.000 -284.000
Net Income   948.000 975.000 1,307.000 853.000 215.000 736.000 -181.000
E.P.S   - - - - - - -
Revenue Growth (%)      5.85 1.99 -1.99 1.337   -11.51
Net Income Growth (%)      2.85 34.05 -34.74 -74.79   -
Oper. Profit Margin (%)    6.01 6.71 6.75 4.10 1.12 - 5.26
Net Profit Margin (%)    3.23 3.14 4.13 2.75 0.68 - 3.15
Cash Flow - Oper.     2,918.00 1,812.00 -51.00
Cash Flow - Inv.     - -860.00 -699.00
Cash Flow - Fin.     - -903.00 741.00
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 09/30/1998 Financial Ratios
Total Assets    14,930.00 Current Assets    6,359.00 Current Ratio    1.66
Total Liab.    14,114.00 Current Liab.    3,831.00 Debt Ratio    94.53%
Total Equity    816.00 Working Cap.    2,528.00 Debt to Equity Ratio    17.30
Cash    980.00    Return on Assets   1.44%
Use Of
Proceeds
The proceeds from the proposed offering will be used for general corporate purposes including working capital.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Kirkland & Ellis
Bank's Law Firm  Davis, Polk & Wardwell
Registrar/Transfer Agent  Boston Equiserve Limited Partnership
Auditor  Deloitte & Touche
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Last updated: 09/29/1999 3:51:06 AM
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