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| MCK Communications, Inc. |
| 313 Washington Street, Newton, MA 02458 * (617) 454-6100 |
| Business Description | The company is a leading provider of remote voice access products that enable corporations to seamlessly extend the features and applications of private branch exchanges, or PBXs, from the corporate office to remote branch offices and telecommuters over wide area networks, or WANs. |
| Offering Information Company has | |||
| Trading As | MCKC (NASNTL) | Industry | Telecommunications (SIC 3661) |
| Type of Stock Offered | Common Shares | Filing Date | 08/24/1999 |
| Domestic Shares Offered | 3,400,000 | Offer Date | 10/21/1999 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 3,400,000 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.120 |
| Gross Proceeds | $54,400,000 | Selling | $0.670 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 17,864,400 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| 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 | 04/30/1995 | 04/30/1996 | 04/30/1997 | 04/30/1998 | 04/30/1999 | 07/31/1998 | 07/31/1999 |
| Revenues | 1.810 | 5.339 | 5.921 | 7.876 | 14.270 | 3.116 | 4.523 |
| Income from Oper. | 0.122 | 1.677 | 0.547 | -0.358 | 0.026 | 0.006 | 0.028 |
| Net Income | 0.121 | 1.032 | -0.097 | -0.953 | -0.181 | -0.123 | -0.068 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | 194.97 | 10.90 | 33.02 | 81.183 | 45.15 | ||
| Net Income Growth (%) | 752.89 | - | - | - | - | ||
| Oper. Profit Margin (%) | 6.74 | 31.41 | 9.24 | - | 0.18 | 0.62 | 0.19 |
| Net Profit Margin (%) | 6.69 | 19.33 | - | - | - | - | - |
| Cash Flow - Oper. | -0.40 | -0.72 | 0.26 | ||||
| Cash Flow - Inv. | -0.68 | -0.18 | -0.14 | ||||
| Cash Flow - Fin. | 2.46 | 2.46 | 0.23 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 07/31/1999 | Financial Ratios | ||||
| Total Assets | 9.81 | Current Assets | 8.73 | Current Ratio | 2.81 |
| Total Liab. | 34.56 | Current Liab. | 3.11 | Debt Ratio | 352.22% |
| Total Equity | -24.75 | Working Cap. | 5.62 | Debt to Equity Ratio | - |
| Cash | 3.60 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to redeem preferred stock, to repay our subordinated indebtedness and for working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | McDermott, Will & Emery |
| Bank's Law Firm | Testa, Hurwitz & Thibeault |
| Registrar/Transfer Agent | American Stock Transfer Company |
| Auditor | Ernst & Young |
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