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| Websense, Inc. |
| 10240 Sorrento Valley Road, San Diego, CA 92121 * (858) 320-8000 |
| Business Description | The company is the leading provider of employee Internet management solutions that enable businesses to monitor, report and manage how their employees use the Internet. |
| Offering Information Company has | |||
| Trading As | WBSN (NASNTL) | Industry | Internet (SIC 7373) |
| Type of Stock Offered | Common Shares | Filing Date | 1/28/00 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 3/27/00 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 4,000,000 | Offer Price | $18.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.260 |
| Gross Proceeds | $72,000,000 | Selling | $0.760 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 19,400,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Chase H&Q; | Lead Manager | (415) 439-3626 |
| SG Cowen | Co-manager | (212) 495-6000 |
| Wit SoundView | Co-manager |
| 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 | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 12/31/99 | ||
| Revenues | 0.882 | 2.590 | 5.020 | 6.919 | 8.647 | - | - |
| Income from Oper. | 0.276 | 0.031 | -1.427 | -5.642 | -9.479 | - | - |
| Net Income | 0.276 | 0.027 | -1.462 | -5.609 | -9.254 | - | - |
| E.P.S | - | - | -0.210 | -0.800 | -1.250 | - | - |
| Revenue Growth (%) | 193.65 | 93.82 | 37.83 | 24.975 | - | ||
| Net Income Growth (%) | -90.22 | - | - | - | - | ||
| Oper. Profit Margin (%) | 31.29 | 1.20 | - | - | - | - | - |
| Net Profit Margin (%) | 31.29 | 1.04 | - | - | - | - | - |
| Cash Flow - Oper. | -0.40 | - | - | ||||
| Cash Flow - Inv. | -1.68 | - | - | ||||
| Cash Flow - Fin. | 11.06 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 16.76 | Current Assets | 14.64 | Current Ratio | 1.55 |
| Total Liab. | 15.11 | Current Liab. | 9.42 | Debt Ratio | 90.20% |
| Total Equity | 1.64 | Working Cap. | 5.22 | Debt to Equity Ratio | 9.20 |
| Cash | 10.73 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for selling and marketing, research and development, operating losses, working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Brobeck, Phleger & Harrison |
| Bank's Law Firm | Gray Cary Ware & Freidenrich |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Morgan Stanley Dean Witter Venture Partners | 24.40 | |
| Crosspoint Venture Partners 1999 L.P. | 14.90 | |
| Persons and entities affiliated with Edelson Technology Partners | 6.80 | |
| Persons and entities affiliated with Nippon Investment & Finance Co., Ltd. | 5.20 | |
| Note: represents ownership of 5% or more prior to the offering. | ||