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Bluestone Software, Inc.
1000 Briggs Road, Mount Laurel, NJ 08054 * (856) 727-4600
Business Description The company is a leading provider of software for "Enterprise Interaction Management", which enables businesses to extend information over the Web in a controlled manner and supports high volume of users and interactions.
Offering
Information

Company has
gone public

Trading As  BLSW (NASNTL) Industry  Service (SIC 7352)
Type of Stock Offered  Common Shares Filing Date  07/02/1999
Domestic Shares Offered  4,000,000 Offer Date  09/23/1999
Foreign Shares Offered  0 Filing Range  $13.00 - $15.00
Company Shares  4,000,000 Offer Price  $15.00
Selling Shrhldrs Shares  0 Gross Spread  $1.050
Gross Proceeds  $60,000,000 Selling  $0.620
Expenses  - - Reallowance  $0.100
Post-IPO Shares  17,282,700 Employees  - -
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
Deutsch Banc Alex. Brown Lead Manager (410) 727-1700
C.E. Unterberg, Towbin Co-manager (212) 572-8060
Legg Mason Wood Walker, Inc. Co-manager (410) 539-4038
SoundView Financial Group, Inc. Co-manager (203) 462-7242
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     12/31/1996 12/31/1997 12/31/1998 03/31/1998 03/31/1999
Revenues   - - 8.073 9.741 8.118 2.154 3.277
Income from Oper.   - - -1.828 -3.817 -11.558 -1.658 -2.483
Net Income   - - -2.616 -4.038 -12.451 -1.783 -2.795
E.P.S   - - -0.210 -0.430 -1.290 -0.190 -0.280
Revenue Growth (%)      - - 20.66 -16.662   52.14
Net Income Growth (%)      - - - -   -
Oper. Profit Margin (%)    - - - - - - -
Net Profit Margin (%)    - - - - - - -
Cash Flow - Oper.     -10.29 -1.80 -1.84
Cash Flow - Inv.     -1.16 -0.17 -0.03
Cash Flow - Fin.     11.65 0.75 -0.06
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 03/31/1999 Financial Ratios
Total Assets    3.88 Current Assets    2.51 Current Ratio    0.47
Total Liab.    24.82 Current Liab.    5.38 Debt Ratio    640.15%
Total Equity    -20.94 Working Cap.    -2.87 Debt to Equity Ratio    -
Cash    0.60    Return on Assets   -
Use Of
Proceeds
The proceeds from the proposed offering will be used for product development, sales and marketing and working capital.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Pepper Hamilton & Scheetz
Bank's Law Firm  Willkie Farr & Gallagher
Auditor  Arthur Andersen
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Last updated: 09/29/1999 3:50:53 AM
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