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| Rockford Corporation |
| 546 South Rockford Drive, Tempe, AZ 85281 * (480) 967-3565 |
| Business Description | The company is a leading designer, manufacturer and distributor of high-performance car audio systems for the worldwide car audio aftermarket. |
| Offering Information Company has | |||
| Trading As | ROFO (NASNTL) | Industry | Manufacturing (SIC 3565) |
| Type of Stock Offered | Common Shares | Filing Date | 5/26/99 |
| Domestic Shares Offered | 2,950,000 | Offer Date | 4/19/00 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 2,950,000 | Offer Price | $11.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.770 |
| Gross Proceeds | $32,450,000 | Selling | $0.450 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 7,360,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Dain Rauscher Wessels | Lead Manager | (612) 371-2818 |
| McDonald & Company Securities, Inc. | Co-manager | (216) 443-2370 |
| Needham & Company | Co-manager | (212) 705-0344 |
| 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 | - | - | 82.715 | 88.783 | 89.006 | 20.776 | 32.026 |
| Income from Oper. | - | - | 0.725 | 4.646 | 5.523 | 0.789 | 3.324 |
| Net Income | - | - | -0.932 | 1.632 | 2.305 | 0.258 | 1.802 |
| E.P.S | - | - | -0.210 | 0.340 | 0.480 | 0.050 | 0.370 |
| Revenue Growth (%) | - | - | 7.34 | 0.251 | 54.15 | ||
| Net Income Growth (%) | - | - | - | 41.24 | 598.45 | ||
| Oper. Profit Margin (%) | - | - | 0.88 | 5.23 | 6.21 | 10.38 | 3.80 |
| Net Profit Margin (%) | - | - | - | 1.84 | 2.59 | 5.63 | 1.24 |
| Cash Flow - Oper. | 0.05 | -0.33 | 0.79 | ||||
| Cash Flow - Inv. | -1.30 | -0.32 | -0.75 | ||||
| Cash Flow - Fin. | 1.33 | 0.73 | -0.07 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/99 | Financial Ratios | ||||
| Total Assets | 44.70 | Current Assets | 38.99 | Current Ratio | 1.67 |
| Total Liab. | 38.07 | Current Liab. | 23.40 | Debt Ratio | 85.16% |
| Total Equity | 6.63 | Working Cap. | 15.59 | Debt to Equity Ratio | 5.74 |
| Cash | 0.36 | Return on Assets | 4.03% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of debt, working capital and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Steptoe & Johnson LLP |
| Bank's Law Firm | Brobeck, Phleger & Harrison |
| Registrar/Transfer Agent | First Chicago Trust Company of NY |
| Auditor | Ernst & Young |
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