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| Cerent Corporation |
| 1450 North McDowell Blvd., Petaluma, CA 94954 * (707) 793-9055 |
| Business Description | We are a leading provider of next-generation optical transport solutions that enable network service providers to meet the demands resulting from the rapid growth of data and voice communications traffic. |
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Filing Information IPO has been | ||||
| To Trade As | CERE (NASNTL) | Industry | Telecommunications (SIC 3661) | |
| Type of Stock Offered | Common Shares | Filing Date | 07/23/1999 | |
| Domestic Shares Filed | 0 | Filing Price | - - | |
| Foreign Shares Filed | 0 | Offering Amount | $100,000,000 | |
| Company Shares | 0 | Est. Expenses | - - | |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - | |
| Employees | 210 | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| BancBoston Robertson Stephens | Co-manager | (415) 989-8500 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| Warburg Dillon Read LLC | Co-manager | (203) 719-4290 |
| 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 | 12/31/1997 | 12/31/1998 | 06/30/1998 | 06/30/1999 | |||
| Revenues | - | - | - | 0.000 | 0.220 | 0.000 | 9.917 |
| Income from Oper. | - | - | - | -7.629 | -21.943 | -8.396 | -27.869 |
| Net Income | - | - | - | -7.858 | -22.550 | -8.664 | -29.304 |
| E.P.S | - | - | - | -0.820 | -1.330 | -0.570 | -1.360 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -19.78 | -7.20 | -17.31 | ||||
| Cash Flow - Inv. | -4.23 | -2.54 | -9.30 | ||||
| Cash Flow - Fin. | 39.49 | 3.73 | 10.14 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 06/30/1999 | Financial Ratios | ||||
| Total Assets | 33.63 | Current Assets | 16.60 | Current Ratio | 1.10 |
| Total Liab. | 20.14 | Current Liab. | 15.14 | Debt Ratio | 59.90% |
| Total Equity | 13.48 | Working Cap. | 1.45 | Debt to Equity Ratio | 1.49 |
| Cash | 5.79 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, including working capital, capital expenditures, and potential acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Venture Law Group |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | Ernst & Young |
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| Industry Competition |
We compete in a relatively new, rapidly evolving and highly competitivemarket. The market historically has been dominated by Alcatel, Fujitsu, Lucent,NEC, Nortel and Tellabs. Some of these companies, including Nortel, haveannounced products that may be competitive with the 454. In addition, a numberof private companies provide products, technologies and/or services that arecompetitive to ours. We believe that the principal competitive factors in thismarket include, or are likely to include, product performance, initial andlifecycle cost, installation time, flexibility, scalability, service andsupport and interoperability with a broad range of network systems. |