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| Online Resources & Communications Corporation |
| 7600 Colshire Drive, McLean, VA 22102 * (703) 394-5100 |
| Business Description | Online Resources is a leading provider of electronic commerce solutions that enable their clients to provide their retail customers a fully-integrated and branded set of Internet and other online banking services. |
| Offering Information Company has | |||
| Trading As | ORCC (NASNTL) | Industry | Service (SIC 7389) |
| Type of Stock Offered | Common Shares | Filing Date | 03/19/1999 |
| Domestic Shares Offered | 3,100,000 | Offer Date | 06/03/1999 |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 |
| Company Shares | 3,100,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.980 |
| Gross Proceeds | $43,400,000 | Selling | $0.590 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 10,824,400 | Employees | 171 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| J.P. Morgan Securities Inc. | Lead Manager | (212) 648-0517 |
| Keefe, Bruyette & Woods, Inc. | Co-manager | (212) 323-8470 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| 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 | 12/31/1996 | 12/31/1997 | 12/31/1998 | ||||
| Revenues | - | - | 1.130 | 2.854 | 4.326 | - | - |
| Income from Oper. | - | - | -6.661 | -10.722 | -10.490 | - | - |
| Net Income | - | - | -6.976 | -11.045 | -11.558 | - | - |
| E.P.S | - | - | -0.660 | -1.200 | -1.360 | - | - |
| Revenue Growth (%) | - | - | 152.57 | 51.577 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -10.38 | - | - | ||||
| Cash Flow - Inv. | -0.56 | - | - | ||||
| Cash Flow - Fin. | 12.56 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 9.42 | Current Assets | 5.73 | Current Ratio | 1.11 |
| Total Liab. | 40.61 | Current Liab. | 5.15 | Debt Ratio | 431.05% |
| Total Equity | -31.19 | Working Cap. | 0.58 | Debt to Equity Ratio | - |
| Cash | 3.47 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used used to repay debt, for co-marketing programs directed to retail customers and for general proposes, including capital expenditures and working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Patton Boggs LLP |
| Bank's Law Firm | Cahill Gordon & Reindel |
| Auditor | Ernst & Young |
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