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| Fargo Electronics, Inc. |
| 6533 Flying Colud Drive, Eden Praire, MN 55344 * (612) 941-9470 |
| Business Description | The company is a leading developer, manufacturer and supplier of desktop systems and associated consumable supplies for the plastic card personalization and data encoding industry. |
| Offering Information Company has | |||
| Trading As | FRGO (NASNTL) | Industry | High-Tech (SIC 3579) |
| Type of Stock Offered | Common Shares | Filing Date | 11/15/99 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 2/10/00 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 5,000,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $75,000,000 | Selling | $0.600 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Prudential Securities Incorporated | Co-manager | (212) 778-5420 |
| Raymond James & Associates, Inc. | Co-manager | (813) 573-8108 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | ||
| Revenues | - | - | 50.317 | 55.140 | 47.647 | 36.202 | 41.147 |
| Income from Oper. | - | - | 13.901 | 14.901 | 6.173 | 3.364 | 10.113 |
| Net Income | - | - | 13.301 | 14.206 | -2.089 | -2.976 | 3.808 |
| E.P.S | - | - | 0.620 | 0.660 | -0.980 | -0.860 | 1.080 |
| Revenue Growth (%) | - | - | 9.59 | -13.589 | 13.66 | ||
| Net Income Growth (%) | - | - | 6.80 | - | - | ||
| Oper. Profit Margin (%) | - | - | 27.63 | 27.02 | 12.96 | 24.58 | 9.29 |
| Net Profit Margin (%) | - | - | 26.43 | 25.76 | - | 9.25 | - |
| Cash Flow - Oper. | -1.94 | -1.14 | 5.64 | ||||
| Cash Flow - Inv. | -0.92 | -0.86 | -1.32 | ||||
| Cash Flow - Fin. | -0.60 | -0.15 | -2.78 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 49.98 | Current Assets | 17.38 | Current Ratio | 1.87 |
| Total Liab. | 50,008.98 | Current Liab. | 9.28 | Debt Ratio | 100,053.29% |
| Total Equity | -49,959.00 | Working Cap. | 8.09 | Debt to Equity Ratio | - |
| Cash | 2.64 | Return on Assets | 7.62% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of certain indebtedness, redemption of preferred stock and accrued dividends and working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Oppenheimer Wolff & Donnelly |
| Bank's Law Firm | Winston & Strawn |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| TA Associates Group | 46.20 | |
| St. Paul Venture Capital, Inc. | 23.10 | |
| Robert P. Cummins | 16.50 | |
| Gary R. Holland | 6.70 | |
| Note: represents ownership of 5% or more prior to the offering. | ||