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| Baker & Taylor Corporation |
| 2709 Water Ridge Parkway, Charlotte, NC 28217 * (704) 357-3500 |
| Business Description | We are a leading full-line distributor of books, videos and music products to Internet and traditional retailers and institutional customers. |
|
Filing Information Not yet | ||||
| To Trade As | - - (NASNTL) | Industry | Internet (SIC 7375) | |
| Type of Stock Offered | Common Shares | Filing Date | 07/23/1999 | |
| Domestic Shares Filed | 0 | Filing Price | - - | |
| Foreign Shares Filed | 0 | Offering Amount | $75,000,000 | |
| Company Shares | 0 | Est. Expenses | - - | |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - | |
| Employees | 2400 | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 06/27/1995 | 06/27/1996 | 06/27/1997 | 06/26/1998 | 06/25/1999 | ||
| Revenues | 783.548 | 751.309 | 828.781 | 883.242 | 1,021.374 | - | - |
| Income from Oper. | -3.657 | -3.203 | -2.962 | 23.979 | 21.957 | - | - |
| Net Income | -3.657 | -3.203 | -2.962 | 52.699 | 21.957 | - | - |
| E.P.S | - | - | -0.140 | 1.160 | 1.070 | - | - |
| Revenue Growth (%) | -4.11 | 10.31 | 6.57 | 15.639 | - | ||
| Net Income Growth (%) | - | - | - | -58.34 | - | ||
| Oper. Profit Margin (%) | - | - | - | 2.71 | 2.15 | - | - |
| Net Profit Margin (%) | - | - | - | 5.97 | 2.15 | - | - |
| Cash Flow - Oper. | -8.43 | - | - | ||||
| Cash Flow - Inv. | 19.64 | - | - | ||||
| Cash Flow - Fin. | -11.07 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 06/25/1999 | Financial Ratios | ||||
| Total Assets | 310.83 | Current Assets | 264.09 | Current Ratio | 1.02 |
| Total Liab. | 295.67 | Current Liab. | 257.90 | Debt Ratio | 95.12% |
| Total Equity | 15.16 | Working Cap. | 6.19 | Debt to Equity Ratio | 19.50 |
| Cash | 20.23 | Return on Assets | 7.06% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to increase the availability under our receivables financing facility, to fund the expansion of our distribution facilities and for other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Latham & Watkins |
| Bank's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Auditor | Arthur Andersen |
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| Industry Competition |
We compete in both the retailer and institutional distribution markets. Within each of these markets we compete primarily with a diverse group of national or regional distributors which target a limited number of sectors in the market. In addition, we may also compete with our suppliers or our customer's internal distribution operations in particular markets. While each market has unique competitive characteristics, we believe that the primary competitive factors across markets are: inventory breadth; fulfillment rate; reliability; accuracy, completeness and depth of data; price; delivery time; information systems and electronic data interchange capabilities; customer service; and financial strength. Our primary competitors in the retailer market are Alliance, Major Video Concepts, Ingram Book Group, Ingram Entertainment and Valley Media. We believe that none of these companies supply all sectors within the retailer market. Our primary competitors in the institutional market are Brodart Company, Book Wholesalers, Inc., Blackwell Ltd., Follett Corporation, Ingram Book Group and Midwest Library Service. Many of these companies focus on a limited number of sectors within the institutional market. We do not believe that there is a competitor in the institutional market that services all of the sectors to the extent that we do, however, within each sector we face competition from niche distributors. |