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| Fidelity Leasing, Inc. |
| 1255 Wrights Lane, West Chester, PA 19380 * (610) 719-4500 |
| Business Description | The company is an equipment finance company which leases technology equipment to the small business market through a sophisticated e-commerce technology platform using computer and telecommunications systems and the Internet. |
|
Filing Information Not yet | ||||
| To Trade As | FLCO (NASNTL) | Industry | Financial (SIC 6159) | |
| Type of Stock Offered | Common Shares | Filing Date | 07/02/1999 | |
| Domestic Shares Filed | 3,900,000 | Filing Range | $17.00 - $19.00 | |
| Foreign Shares Filed | 0 | Offering Amount | $70,200,000 | |
| Company Shares | 3,900,000 | Est. Expenses | - - | |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | 11,175,000 | |
| Being spun off from | Resource America Inc. (REXI) | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| BancBoston Robertson Stephens | Lead Manager | (415) 989-8500 |
| First Union Capital Markets Corp. | Co-manager | (804) 649-2311 |
| Friedman, Billings, Ramsey & Co., Inc. | Co-manager | (703) 312-9571 |
| 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 | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 09/30/1996 | 09/30/1997 | 09/30/1998 | 03/31/1998 | 03/31/1999 | ||
| Revenues | - | - | 0.007 | 4.790 | 11.079 | 5.245 | 14.435 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | -0.295 | 0.960 | 2.406 | 1.031 | 0.934 |
| E.P.S | - | - | -0.050 | 0.150 | 0.380 | 0.160 | 0.150 |
| Revenue Growth (%) | - | - | 68,328.57 | 131.294 | 175.21 | ||
| Net Income Growth (%) | - | - | - | 150.63 | -9.41 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | 20.04 | 21.72 | 6.47 | 19.66 |
| Cash Flow - Oper. | -2.60 | -1.82 | 3.00 | ||||
| Cash Flow - Inv. | -12.18 | -4.89 | 19.15 | ||||
| Cash Flow - Fin. | 16.49 | 6.57 | -5.33 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1999 | Financial Ratios | ||||
| Total Assets | 363.53 | Current Assets | - | Current Ratio | - |
| Total Liab. | 357.52 | Current Liab. | - | Debt Ratio | 98.35% |
| Total Equity | 6.01 | Working Cap. | - | Debt to Equity Ratio | 59.54 |
| Cash | 20.50 | Return on Assets | 0.26% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for the continued growth of the company's leasing business, including lease-origination enhancement and expansion of the company's technology infrastructure, start-up costs for international operations, working capital and for general purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Ledgewood Law Firm, P.C. |
| Bank's Law Firm | Sidley & Austin |
| Auditor | Grant Thornton |
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