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| Somera Communications, Inc. |
| 5383 Hollister Avenue, Santa Barbara, CA 93111 * (805) 681-3322 |
| Business Description | The company provides telecommunications carriers with a broad range of infrastructure equipment and related services designed to meet their specific and changing equipment needs. |
| Offering Information Company has | |||
| Trading As | SMRA (NASNTL) | Industry | Wholesale (SIC 5065) |
| Type of Stock Offered | Common Shares | Filing Date | 9/10/99 |
| Domestic Shares Offered | 8,500,000 | Offer Date | 11/11/99 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 8,500,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $102,000,000 | Selling | $0.480 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 46,562,500 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| 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 | 12/31/96 | 12/31/97 | 12/31/98 | 6/30/98 | 6/30/99 | ||
| Revenues | - | - | 10.149 | 34.603 | 72.186 | 34.417 | 52.834 |
| Income from Oper. | - | - | 3.141 | 9.775 | 19.368 | 9.660 | 11.234 |
| Net Income | - | - | 3.123 | 9.693 | 19.181 | 9.585 | 11.090 |
| E.P.S | - | - | 0.080 | 0.250 | 0.500 | 0.250 | 0.290 |
| Revenue Growth (%) | - | - | 240.95 | 108.612 | 53.51 | ||
| Net Income Growth (%) | - | - | 210.37 | 97.89 | 15.70 | ||
| Oper. Profit Margin (%) | - | - | 30.95 | 28.25 | 26.83 | 21.26 | 28.07 |
| Net Profit Margin (%) | - | - | 30.77 | 28.01 | 26.57 | 20.99 | 27.85 |
| Cash Flow - Oper. | 14.95 | 7.41 | 7.04 | ||||
| Cash Flow - Inv. | -5.84 | -0.30 | -0.36 | ||||
| Cash Flow - Fin. | -13.85 | -6.56 | -8.13 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 27.20 | Current Assets | 25.69 | Current Ratio | 1.63 |
| Total Liab. | 69.97 | Current Liab. | 15.72 | Debt Ratio | 257.21% |
| Total Equity | -42.77 | Working Cap. | 9.98 | Debt to Equity Ratio | - |
| Cash | 0.48 | Return on Assets | 40.77% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay outstanding bank indebtedness, for capital expenditures and for general corporate purposes including working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Cooley Godward Castro Huddleson & Tatum |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Pricewaterhouse Coopers LLC |
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