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| Integrated Telecom Express, Inc. |
| 2710 Walsh Avenue, Santa Clara, CA 95051 * (408) 980-8168 |
| Business Description | The Company designs, develops and markets integrated circuit and software solutions that enable broadband access communications equipment manufacturers to deliver high-speed asymmetric digital subscriber line, or ADSL, equipment to service providers and their residential and business customers. |
| Offering Information Company has | |||
| Trading As | ITXI (NASNTL) | Industry | Telecommunications (SIC 3661) |
| Type of Stock Offered | Common Shares | Filing Date | 6/13/00 |
| Domestic Shares Offered | 5,600,000 | Offer Date | 8/17/00 |
| Foreign Shares Offered | 0 | Filing Range | $17.00 - $19.00 |
| Company Shares | 5,600,000 | Offer Price | $18.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.260 |
| Gross Proceeds | $100,800,000 | Selling | $0.760 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 41,300,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Fidelity Capital Markets | Co-manager | |
| Wit SoundView | 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 | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 | ||
| Revenues | - | - | 0.000 | 0.000 | 3.053 | 0.083 | 4.115 |
| Income from Oper. | - | - | -1.268 | -9.296 | -13.636 | -3.458 | -3.552 |
| Net Income | - | - | -3.906 | -9.296 | -13.636 | -3.458 | -3.552 |
| E.P.S | - | - | -0.170 | -0.400 | -0.590 | -0.150 | -0.100 |
| Revenue Growth (%) | - | - | - | - | 4,857.83 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -13.28 | -3.28 | -2.16 | ||||
| Cash Flow - Inv. | -2.97 | -1.18 | -1.20 | ||||
| Cash Flow - Fin. | 40.34 | 0.02 | 0.09 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 50.25 | Current Assets | 40.66 | Current Ratio | 7.18 |
| Total Liab. | 51.79 | Current Liab. | 5.66 | Debt Ratio | 103.05% |
| Total Equity | -1.53 | Working Cap. | 35.00 | Debt to Equity Ratio | - |
| Cash | 35.24 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and general corporate purposes, including expenditures for research and development of new products and sales and marketing. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Cooley Godward Castro Huddleson & Tatum |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| United Microelectronics Corporation | 19.83 | |
| Fortune Venture Capital Corporation | 11.33 | |
| Creative Group Limited | 9.91 | |
| Intel Corporation | 5.95 | |
| Note: represents ownership of 5% or more prior to the offering. | ||