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| BTI Telecom Corp. |
| 4300 Six Forks Road, Raleigh, NC 27609 * (800) 849-9100 |
| Business Description | We are a leading facilities-based integrated communications provider, or ICP, in the southeastern United States. |
|
Filing Information Not yet | ||||
| To Trade As | BTIX (NASNTL) | Industry | Telecommunications (SIC 4813) | |
| Type of Stock Offered | Common Shares | Filing Date | 07/16/1999 | |
| Domestic Shares Filed | 0 | Filing Price | - - | |
| Foreign Shares Filed | 0 | Offering Amount | $125,000,000 | |
| Company Shares | 0 | Est. Expenses | - - | |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - | |
| Employees | 850 | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter | Lead Manager | (212) 761-5900 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| 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 | 12/31/1994 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 12/31/1998 | 06/30/1998 | 06/30/1999 |
| Revenues | 91.470 | 114.493 | 148.777 | 194.949 | 212.554 | 105.806 | 117.762 |
| Income from Oper. | 3.374 | 1.562 | 4.166 | -4.212 | -18.358 | -8.795 | -8.394 |
| Net Income | 2.701 | 0.371 | 2.606 | -10.639 | -38.233 | -18.077 | -20.446 |
| E.P.S | 0.010 | - | 0.010 | -0.060 | -0.380 | -0.180 | -0.200 |
| Revenue Growth (%) | 25.17 | 29.94 | 31.03 | 9.031 | 11.30 | ||
| Net Income Growth (%) | -86.26 | 602.43 | - | - | - | ||
| Oper. Profit Margin (%) | 3.69 | 1.36 | 2.80 | - | - | - | - |
| Net Profit Margin (%) | 2.95 | 0.32 | 1.75 | - | - | - | - |
| Cash Flow - Oper. | -6.42 | -4.80 | 0.96 | ||||
| Cash Flow - Inv. | -49.47 | -17.14 | -35.56 | ||||
| Cash Flow - Fin. | 1.65 | -1.01 | 27.18 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 06/30/1999 | Financial Ratios | ||||
| Total Assets | 233.36 | Current Assets | 65.87 | Current Ratio | 0.83 |
| Total Liab. | 363.38 | Current Liab. | 79.65 | Debt Ratio | 155.71% |
| Total Equity | -130.02 | Working Cap. | -13.78 | Debt to Equity Ratio | - |
| Cash | 5.35 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund the expansion of our fiber optic network, the purchase and installation of additional voice and data switches and related equipment and facilities, the opening of new sales offices and for working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wyrick, Robbins, Yates & Ponton |
| Bank's Law Firm | Shearman & Sterling |
| Auditor | Ernst & Young |
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