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| TrueTime, Inc. |
| 2835 Duke Court, Santa Rosa, CA 95407 * (707) 528-1230 |
| Business Description | The company designs, develops, manufactures and markets precision time and frequency products that are essential components used in telecommunications, computer networking, e-commerce, aerospace and various other commercial markets. |
| Offering Information Company has | |||
| Trading As | TRUE (NASNTL) | Industry | Telecommunications (SIC 3663) |
| Type of Stock Offered | Common Shares | Filing Date | 11/3/99 |
| Domestic Shares Offered | 3,000,000 | Offer Date | 12/16/99 |
| Foreign Shares Offered | 0 | Filing Range | $5.00 - $7.00 |
| Company Shares | 3,000,000 | Offer Price | $5.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.360 |
| Gross Proceeds | $15,000,000 | Selling | $0.210 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 5,500,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| C.E. Unterberg, Towbin | Lead Manager | (212) 572-8060 |
| 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 | 9/30/97 | 9/30/98 | 9/30/99 | ||||
| Revenues | - | - | 13.884 | 16.297 | 20.645 | - | - |
| Income from Oper. | - | - | 2.350 | 2.492 | 3.509 | - | - |
| Net Income | - | - | 1.396 | 1.619 | 2.267 | - | - |
| E.P.S | - | - | 0.350 | 0.400 | 0.570 | - | - |
| Revenue Growth (%) | - | - | 17.38 | 26.680 | - | ||
| Net Income Growth (%) | - | - | 15.97 | 40.02 | - | ||
| Oper. Profit Margin (%) | - | - | 16.93 | 15.29 | 17.00 | - | - |
| Net Profit Margin (%) | - | - | 10.05 | 9.93 | 10.98 | - | - |
| Cash Flow - Oper. | 1.63 | - | - | ||||
| Cash Flow - Inv. | 1.87 | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 15.49 | Current Assets | 13.55 | Current Ratio | 4.95 |
| Total Liab. | 2.74 | Current Liab. | 2.74 | Debt Ratio | 17.68% |
| Total Equity | 12.75 | Working Cap. | 10.81 | Debt to Equity Ratio | 0.21 |
| Cash | 3.54 | Return on Assets | 14.63% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including working capital, expansion into new technologies and markets, increased marketing, sales and operations capabilities and possible acquisitions of complementary businesses or technologies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Fulbright & Jaworski |
| Bank's Law Firm | Akin, Gump, Strauss, Hauer & Feld |
| Registrar/Transfer Agent | American Securities Transfer and Trust |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| OYO Corporation | 45.50 | |
| Note: represents ownership of 5% or more prior to the offering. | ||