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| Copper Mountain Networks, Inc. |
| 2470 Embarcadero Way, Palo Alto, CA 94303 * (650) 858-8500 |
| Business Description | Copper Mountain is a leading supplier of high-speed digital subscriber line, or DSL, based communications products. Our solutions enable telecommunications service providers to provide high-speed, cost-effective connectivity over the existing copper wire telephone infrastructure to the business, multi-tenant unit and residential markets. We believe there is significant demand for high-speed data access services, especially among business users who have foundcurrent solutions to be inadequate or too expensive. Therefore, Copper Mountain has initially focused on producing equipment that supports practical, large-scale deployment of DSL services to businesses and their associated teleworkers. |
| Offering Information Company has | |||
| Trading As | CMTN (NASNTL) | Industry | Telecommunications (SIC 3661) |
| Type of Stock Offered | Common Shares | Filing Date | 3/1/99 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 5/12/99 |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 |
| Company Shares | 4,000,000 | Offer Price | $21.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.470 |
| Gross Proceeds | $84,000,000 | Selling | $0.890 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 22,387,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| BancBoston Robertson Stephens | Co-manager | (415) 989-8500 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 3/31/98 | 3/31/99 | ||
| Revenues | - | - | 0.000 | 0.211 | 21.821 | 0.317 | 13.217 |
| Income from Oper. | - | - | -2.036 | -9.697 | -6.644 | -2.932 | 0.488 |
| Net Income | - | - | -1.992 | -9.526 | -6.451 | -2.852 | 0.587 |
| E.P.S | - | - | - | - | -0.390 | - | 0.030 |
| Revenue Growth (%) | - | - | - | 10,241.706 | 4,069.40 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | 3.69 | - |
| Net Profit Margin (%) | - | - | - | - | - | 4.44 | - |
| Cash Flow - Oper. | 1.43 | - | - | ||||
| Cash Flow - Inv. | -0.64 | - | - | ||||
| Cash Flow - Fin. | 0.06 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/99 | Financial Ratios | ||||
| Total Assets | 37.39 | Current Assets | 31.75 | Current Ratio | 4.00 |
| Total Liab. | 9.81 | Current Liab. | 7.95 | Debt Ratio | 26.23% |
| Total Equity | 27.59 | Working Cap. | 23.81 | Debt to Equity Ratio | 0.36 |
| Cash | 18.51 | Return on Assets | 1.57% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, working capital and capital expenditures. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Cooley Godward Castro Huddleson & Tatum |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Ernst & Young |
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| Industry Competition |
The telecommunications equipment industry is highly competitive, and we believe that competition may increase substantially as the introduction of new technologies, deployment of broadband networks and potential regulatory changes create new opportunities for established and emerging companies in the industry. In addition, a number of our competitors have significantly greater financial and other resources than us to meet new competitive opportunities. We compete directly with other providers of DSL access concentrators including, Cisco Systems, Inc., Ascend Communications, Inc. (acquisition by Lucent pending), Alcatel S.A. and Diamond Lane Communications Corporation (acquisition by Nokia Corporation pending) and Paradyne Corporation, among others. In addition, DSL as a technology for deploying broadband connections is competing with alternative technologies including ISDN, T-1 and wireless solutions. To the extent we expand into the residential market, we will compete against certain other companies, including companies relying on coaxial cable infrastructure and cable modem technology. |