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| Qualstar Corporation |
| 6709 Independence Avenue, Canoga Park, CA 91313 * (818) 592-0061 |
| Business Description | The company designs, develops, manufactures and sells high quality automated magnetic tape libraries used to store, retrieve and manage electronic data primarily network computing environments. |
| Offering Information Company has | |||
| Trading As | QBAK (NASNTL) | Industry | High-Tech (SIC 3577) |
| Type of Stock Offered | Common Shares | Filing Date | 2/2/00 |
| Domestic Shares Offered | 2,500,000 | Offer Date | 6/22/00 |
| Foreign Shares Offered | 0 | Filing Range | $10.00 - $12.00 |
| Company Shares | 2,500,000 | Offer Price | $7.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.490 |
| Gross Proceeds | $17,500,000 | Selling | $0.260 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 12,530,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| First Security Van Kasper | Lead Manager | (415) 954-0650 |
| Needham & Company | Co-manager | (212) 705-0344 |
| 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 | 6/30/95 | 6/30/96 | 6/30/97 | 6/30/98 | 6/30/99 | 12/31/98 | 12/31/99 |
| Revenues | 8.432 | 10.974 | 15.333 | 19.155 | 29.699 | 12.739 | 22.522 |
| Income from Oper. | 0.037 | 0.793 | 1.451 | 3.030 | 6.507 | 2.595 | 5.969 |
| Net Income | 0.082 | 0.526 | 0.848 | 1.786 | 3.986 | 1.546 | 3.590 |
| E.P.S | 0.040 | 0.230 | 0.360 | 0.750 | 1.620 | 0.630 | 1.420 |
| Revenue Growth (%) | 30.15 | 39.72 | 24.93 | 55.046 | 76.80 | ||
| Net Income Growth (%) | 541.46 | 61.22 | 110.61 | 123.18 | 132.21 | ||
| Oper. Profit Margin (%) | 0.44 | 7.23 | 9.46 | 15.82 | 21.91 | 26.50 | 20.37 |
| Net Profit Margin (%) | 0.97 | 4.79 | 5.53 | 9.32 | 13.42 | 15.94 | 12.14 |
| Cash Flow - Oper. | 1.57 | 1.30 | 2.71 | ||||
| Cash Flow - Inv. | -0.27 | -0.08 | -1.15 | ||||
| Cash Flow - Fin. | 0.04 | 0.03 | 0.07 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 16.74 | Current Assets | 15.09 | Current Ratio | 10.84 |
| Total Liab. | 1.43 | Current Liab. | 1.39 | Debt Ratio | 8.56% |
| Total Equity | 15.31 | Working Cap. | 13.70 | Debt to Equity Ratio | 0.09 |
| Cash | 3.77 | Return on Assets | 21.44% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Stradling, Yocca, Carlson & Rauth |
| Bank's Law Firm | Troop Steuber Pasich Reddick & Tobey, LLP |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| William J. Gervais | 32.80 | |
| Richard A. Nelson | 23.60 | |
| Daniel O. Thorlakson | 5.80 | |
| Note: represents ownership of 5% or more prior to the offering. | ||