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| Simple Technology Inc. |
| 3001 Daimler Street, Santa Ana, CA 92705 * (949) 476-1180 |
| Business Description | The company is a leading independent provider of standard and custom memory solutions, with products based on dynamic random access memory, or DRAM,static random access memory, or SRAM, and Flash memory technologies, such as CompactFlash. |
| Offering Information Company has | |||
| Trading As | STEC (NASNTL) | Industry | High-Tech (SIC 3572) |
| Type of Stock Offered | Common Shares | Filing Date | 3/15/00 |
| Domestic Shares Offered | 6,364,000 | Offer Date | 9/28/00 |
| Foreign Shares Offered | 0 | Filing Range | $10.00 - $12.00 |
| Company Shares | 6,364,000 | Offer Price | $11.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.770 |
| Gross Proceeds | $70,004,000 | Selling | $0.450 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 36,965,027 | Employees | 323 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Fidelity Capital Markets | Co-manager |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 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 | 3/31/99 | 3/31/00 |
| Revenues | 206.756 | 163.716 | 159.088 | 122.288 | 192.593 | 41.951 | 57.667 |
| Income from Oper. | 11.329 | 3.354 | 1.089 | -0.543 | 14.113 | 1.200 | 5.171 |
| Net Income | 9.199 | 2.082 | -0.626 | -2.163 | 12.503 | 0.771 | 4.942 |
| E.P.S | 0.230 | 0.050 | -0.020 | -0.050 | 0.290 | 0.020 | 0.120 |
| Revenue Growth (%) | -20.82 | -2.83 | -23.13 | 57.491 | 37.46 | ||
| Net Income Growth (%) | -77.37 | - | - | - | 540.99 | ||
| Oper. Profit Margin (%) | 5.48 | 2.05 | 0.68 | - | 7.33 | 8.97 | 2.86 |
| Net Profit Margin (%) | 4.45 | 1.27 | - | - | 6.49 | 8.57 | 1.84 |
| Cash Flow - Oper. | 7.79 | -3.19 | 0.05 | ||||
| Cash Flow - Inv. | -0.72 | -0.28 | -0.05 | ||||
| Cash Flow - Fin. | -4.11 | 3.36 | -2.94 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 57.36 | Current Assets | 49.23 | Current Ratio | 2.07 |
| Total Liab. | 36.66 | Current Liab. | 23.82 | Debt Ratio | 63.90% |
| Total Equity | 20.71 | Working Cap. | 25.41 | Debt to Equity Ratio | 1.77 |
| Cash | 0.83 | Return on Assets | 8.62% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for debt repayment under a line of credit and repayment of undistributed earnings notes held by existing shareholders and for working capital and general corporate purposes |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Brobeck, Phleger & Harrison |
| Bank's Law Firm | Latham & Watkins |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Pricewaterhouse Coopers LLC |
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