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| Packard BioScience Company |
| 800 Research Parkway, Meriden, CT 06450 * (203) 238-2351 |
| Business Description | The company is a leading global developer, manufacturer and marketer of instruments and related consumables and services for use in the life sciences research and nuclear industries. |
| Offering Information Company has | |||
| Trading As | PBSC (NASNTL) | Industry | Manufacturing (SIC 3826) |
| Type of Stock Offered | Common Shares | Filing Date | 3/8/00 |
| Domestic Shares Offered | 12,000,000 | Offer Date | 4/19/00 |
| Foreign Shares Offered | 0 | Filing Range | $16.00 - $18.00 |
| Company Shares | 9,600,000 | Offer Price | $9.00 |
| Selling Shrhldrs Shares | 2,400,000 | Gross Spread | $0.630 |
| Gross Proceeds | $108,000,000 | Selling | $0.370 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 54,900,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Chase H&Q; | Co-manager | (415) 439-3626 |
| Robert W. Baird & Company | Co-manager | (414) 765-3632 |
| 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 | - - 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 | 169.114 | 184.018 | 184.113 | 228.164 | 264.892 | - | - |
| Income from Oper. | 25.901 | 30.150 | 4.356 | 22.773 | 28.980 | - | - |
| Net Income | 14.605 | 19.236 | -18.755 | 1.905 | -0.198 | - | - |
| E.P.S | - | - | -1.500 | 0.210 | -0.020 | - | - |
| Revenue Growth (%) | 8.81 | 0.05 | 23.93 | 16.097 | - | ||
| Net Income Growth (%) | 31.71 | - | - | - | - | ||
| Oper. Profit Margin (%) | 15.32 | 16.38 | 2.37 | 9.98 | 10.94 | - | - |
| Net Profit Margin (%) | 8.64 | 10.45 | - | 0.83 | - | - | - |
| Cash Flow - Oper. | 6.49 | - | - | ||||
| Cash Flow - Inv. | -39.80 | - | - | ||||
| Cash Flow - Fin. | 34.88 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 206.00 | Current Assets | 116.18 | Current Ratio | 1.50 |
| Total Liab. | 313.89 | Current Liab. | 77.62 | Debt Ratio | 152.38% |
| Total Equity | -107.89 | Working Cap. | 38.57 | Debt to Equity Ratio | - |
| Cash | 7.58 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to reduce indebtedness under a senior credit facility, to make open-market purchases of 9.3/8 senior subordinated notes due 2007, to increase spending associated with research and development, new product development, enhancement of existing products and strategic collaborations and acquisitions, and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wachtell, Lipton, Rosen & Katz |
| Bank's Law Firm | Shearman & Sterling |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Stonington Capital Appreciation 1994 Fund, L.P. | 61.40 | |
| Note: represents ownership of 5% or more prior to the offering. | ||