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| DLJdirect Common Stock Donaldson Lufkin & Jenrette, Inc. |
| 277 Park Avenue, New York, NY 10172 * (212) 892-3000 |
| Business Description | The company is a leading provider of online discount brokerage and related investment services, offering customers automated securities order placement and information and research capabilities through the Internet and online service providers. |
| Offering Information Company has | |||
| Trading As | DIR (NYSE) | Industry | Financial (SIC 6211) |
| Type of Stock Offered | Common Shares | Filing Date | 03/17/1999 |
| Domestic Shares Offered | 16,000,000 | Offer Date | 05/25/1999 |
| Foreign Shares Offered | 0 | Filing Range | $18.00 - $20.00 |
| Company Shares | 16,000,000 | Offer Price | $20.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.350 |
| Gross Proceeds | $320,000,000 | Selling | $0.810 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 85,000,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| BT Alex Brown | Co-manager | (410) 727-1700 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Morgan Stanley Dean Witter Discover & Co. | Co-manager | (212) 761-5900 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| 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 | 34.146 | 47.271 | 63.161 | 67.217 | 117.924 | - | - |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | 4.528 | 6.871 | 7.856 | -3.623 | 1.460 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | 38.44 | 33.61 | 6.42 | 75.438 | - | ||
| Net Income Growth (%) | 51.74 | 14.34 | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | 13.26 | 14.54 | 12.44 | - | 1.24 | - | - |
| Cash Flow - Oper. | 2.04 | - | - | ||||
| Cash Flow - Inv. | 1.23 | - | - | ||||
| Cash Flow - Fin. | 14.50 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 29.75 | Current Assets | - | Current Ratio | - |
| Total Liab. | 7.83 | Current Liab. | - | Debt Ratio | 26.31% |
| Total Equity | 21.92 | Working Cap. | - | Debt to Equity Ratio | 0.36 |
| Cash | 26.65 | Return on Assets | 4.91% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund increases in marketing expenditures, for international expansion, to repay a note issued to DLJ prior to the consummation of the offering and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Davis, Polk & Wardwell |
| Bank's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Registrar/Transfer Agent | First Chicago Trust Company of NY |
| Auditor | KPMG LLC |
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