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| Delta Galil Industries Ltd. |
| 2 Kaufman Street, Tel Aviv, Israel 68012 |
| Business Description | The company is a global provider of high quality private label women's intimate apparel, men's underwear, socks, babywear and leisurewear. The company sells to leading retailers including: Marks & Spencer, Gap, Victoria's Secret, Structure, JCPenney, J. Crew, Hema and Carrefour and marketers of leading brand names including: Polo Ralph Lauren, Calvin Klein, Donna Karan and Hugo Boss. |
| Offering Information Company has | |||
| Trading As | DELT (NYSE) | Industry | Manufacturing (SIC 2322) |
| Type of Stock Offered | American Depositary Receipts | Filing Date | 02/28/1999 |
| Domestic Shares Offered | 2,500,000 | Offer Date | 03/25/1999 |
| Foreign Shares Offered | 0 | Filing Range | $9.50 - $11.50 |
| Company Shares | 2,500,000 | Offer Price | $9.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.585 |
| Gross Proceeds | $22,500,000 | Selling | $0.320 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 17,007,529 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| ING Baring Furman Selz | Co-manager | (212) 309-8200 |
| 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 | 216.970 | 237.732 | 272.981 | 296.239 | 298.951 | - | - |
| Income from Oper. | 14.045 | 4.709 | 9.597 | 17.728 | 23.345 | - | - |
| Net Income | 7.021 | 0.578 | 5.009 | 12.458 | 17.941 | - | - |
| E.P.S | 0.470 | 0.040 | 0.350 | 0.860 | 1.240 | - | - |
| Revenue Growth (%) | 9.57 | 14.83 | 8.52 | 0.915 | - | ||
| Net Income Growth (%) | -91.77 | 766.61 | 148.71 | 44.01 | - | ||
| Oper. Profit Margin (%) | 6.47 | 1.98 | 3.52 | 5.98 | 7.81 | - | - |
| Net Profit Margin (%) | 3.24 | 0.24 | 1.83 | 4.21 | 6.00 | - | - |
| Cash Flow - Oper. | 41.66 | - | - | ||||
| Cash Flow - Inv. | -10.05 | - | - | ||||
| Cash Flow - Fin. | -29.76 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 206.51 | Current Assets | 115.58 | Current Ratio | 1.30 |
| Total Liab. | 106.86 | Current Liab. | 89.18 | Debt Ratio | 51.74% |
| Total Equity | 99.66 | Working Cap. | 26.39 | Debt to Equity Ratio | 1.07 |
| Cash | 3.48 | Return on Assets | 8.69% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of debt, potential acquisitions of additional businesses that may be complementary to Delta Galil's business and working capital, capital expenditures and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Arnold & Porter |
| Bank's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Auditor | Kesselman & Kesselman |
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