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| ANSYS Diagnostics, Inc. |
| 25200 Commercentre Drive, Lake Forest, CA 92630 * (949) 770-9381 |
| Business Description | The company develops, manufactures and markets drug testing products and specialty laboratory and research products. |
|
Filing Information IPO has been | |||
| To Trade As | ASDI (NASNTL) | Industry | Pharmaceutical (SIC 2835) |
| Type of Stock Offered | Common Shares | Filing Date | 02/19/1999 |
| Domestic Shares Filed | 2,500,000 | Filing Range | $8.00 - $10.00 |
| Foreign Shares Filed | 0 | Offering Amount | $22,500,000 |
| Company Shares | 2,500,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | 8,016,512 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Vector Securities International, Inc. | Lead Manager | (800) 546-1231 |
| Sutro & Company Inc. | Co-manager | (415) 445-8323 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1994 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 12/31/1998 | ||
| Revenues | 6.589 | 6.447 | 8.126 | 10.698 | 18.964 | - | - |
| Income from Oper. | 1.471 | 0.814 | 1.864 | 1.950 | 4.512 | - | - |
| Net Income | 0.971 | 0.494 | 1.201 | 1.206 | 2.691 | - | - |
| E.P.S | 0.340 | 0.140 | 0.460 | 0.540 | 1.330 | - | - |
| Revenue Growth (%) | -2.16 | 26.04 | 31.65 | 77.267 | - | ||
| Net Income Growth (%) | -49.12 | 143.12 | 0.42 | 123.13 | - | ||
| Oper. Profit Margin (%) | 22.33 | 12.63 | 22.94 | 18.23 | 23.79 | - | - |
| Net Profit Margin (%) | 14.74 | 7.66 | 14.78 | 11.27 | 14.19 | - | - |
| Cash Flow - Oper. | 3.09 | - | - | ||||
| Cash Flow - Inv. | -2.50 | - | - | ||||
| Cash Flow - Fin. | 1.07 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 11.89 | Current Assets | 7.43 | Current Ratio | 3.13 |
| Total Liab. | 4.23 | Current Liab. | 2.38 | Debt Ratio | 35.55% |
| Total Equity | 7.66 | Working Cap. | 5.05 | Debt to Equity Ratio | 0.55 |
| Cash | 3.18 | Return on Assets | 22.63% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for redemption of preferred stock and payment of cumulative dividends, for repayment of indebtedness, for the acquisition of complementary businesses, products and technologies, and working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Brobeck, Phleger & Harrison |
| Bank's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | McGladrey & Pullen |
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| Industry Competition |
The company's target markets are intensely competitive. The company believes the principal factors for competition include accuracy, reproducibility, ease of use, distribution capabilities and price. The company's competitors include diagnostic companies that manufacture on-site and laboratory-based drug testing products, as well as those that manufacture specialty laboratory and research products. Some of the company's competitors have substantially greater financial, technical, research and other resources and larger, more established sales, marketing, distribution and service organizations than the company has. Moreover, a number of these competitors offer broader product lines, have greater name recognition than the company does and offer discounts as a competitive tactic. In addition, several smaller companies are currently making or developing products that compete with or will compete with the company's products. |
| Business Plan |
The company seeks to strengthen its competitive position in the drug testing and specialty laboratory and research markets by pursuing the following strategies: (i) Employ Market Driven Product Development, (ii) Focus on Strategic Relationships, (iii) Accelerate Development of New Drug Testing Products, (iv) Increase Emphasis on Specialty Laboratory and Research Products, (v) Achieve Manufacturing Efficiencies Through Automation, and (vi) Pursue Strategic Acquisitions. |