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| Cheap Tickets, Inc. |
| 1440 Kapiolani Boulevard, Honolulu, HI 96814 * (808) 945-7439 |
| Business Description | The company is a leading retailer of discount tickets for domestic leisure air travel. In 1998, the company sold approximately 963,000 airline tickets through call centers, retail stores and their Internet site at www.cheaptickets.com. |
| Offering Information Company has | |||
| Trading As | CTIX (NASNTL) | Industry | Internet (SIC 7375) |
| Type of Stock Offered | Common Shares | Filing Date | 01/20/1999 |
| Domestic Shares Offered | 3,500,000 | Offer Date | 03/18/1999 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 3,500,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $52,500,000 | Selling | $0.570 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 20,943,132 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| William Blair & Company | Lead Manager | (312) 364-8990 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| 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 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 09/30/1997 | 09/30/1998 | ||
| Revenues | - | - | 91.994 | 105.944 | 153.674 | 112.084 | 199.115 |
| Income from Oper. | - | - | 0.733 | 1.076 | -1.612 | -0.158 | 2.408 |
| Net Income | - | - | 0.017 | 0.674 | -1.009 | -0.111 | 1.473 |
| E.P.S | - | - | -0.020 | 0.630 | -1.140 | -0.220 | 1.000 |
| Revenue Growth (%) | - | - | 15.16 | 45.052 | 77.65 | ||
| Net Income Growth (%) | - | - | 3,864.71 | - | - | ||
| Oper. Profit Margin (%) | - | - | 0.80 | 1.02 | - | 1.21 | - |
| Net Profit Margin (%) | - | - | 0.02 | 0.64 | - | 0.74 | - |
| Cash Flow - Oper. | 1.46 | 3.75 | 3.22 | ||||
| Cash Flow - Inv. | -0.49 | -0.14 | 0.16 | ||||
| Cash Flow - Fin. | 3.69 | 4.24 | -0.40 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 09/30/1998 | Financial Ratios | ||||
| Total Assets | 14.90 | Current Assets | 14.90 | Current Ratio | 1.92 |
| Total Liab. | 9.00 | Current Liab. | 7.77 | Debt Ratio | 60.38% |
| Total Equity | 5.90 | Working Cap. | 7.14 | Debt to Equity Ratio | 1.52 |
| Cash | 9.23 | Return on Assets | 9.88% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for advertising and brand development, for development of technological infrastructure, to redeem outstanding Mandatorily Redeemable Preferred Stock, and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Morrison & Foerster |
| Bank's Law Firm | Sonnenschein Nath & Rosenthal |
| Auditor | Pricewaterhouse Coopers LLC |
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