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| Artest Corporation |
| 678 Almanor Avenue, Sunnyvale, CA 94086 * (408) 731-8778 |
| Business Description | The Company is a leading independent provider of comprehensive semiconductor test services, focusing on complex mixed-signal, radio frequency, or RF, and high-performance digital integrated circuits, or ICs, primarily in the communications and networking industries. |
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Filing Information Not yet | |||
| To Trade As | ARTE (NASNTL) | Industry | High-Tech (SIC 3674) |
| Type of Stock Offered | Common Shares | Filing Date | 7/3/00 |
| Domestic Shares Filed | 5,000,000 | Filing Range | $9.00 - $11.00 |
| Foreign Shares Filed | 0 | Offering Amount | $50,000,000 |
| Company Shares | 5,000,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | 24,259,567 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| 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 | 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 | - | - | 1.042 | 3.413 | 7.994 | 1.724 | 2.616 |
| Income from Oper. | - | - | -0.376 | -0.512 | 2.506 | 0.748 | 0.559 |
| Net Income | - | - | 0.216 | 0.047 | 1.630 | 0.480 | 0.287 |
| E.P.S | - | - | 0.040 | 0.010 | 0.310 | 0.090 | 0.050 |
| Revenue Growth (%) | - | - | 227.54 | 134.222 | 51.74 | ||
| Net Income Growth (%) | - | - | -78.24 | 3,368.09 | -40.21 | ||
| Oper. Profit Margin (%) | - | - | - | - | 31.35 | 21.37 | 43.39 |
| Net Profit Margin (%) | - | - | 20.73 | 1.38 | 20.39 | 10.97 | 27.84 |
| Cash Flow - Oper. | 4.43 | 0.59 | -0.26 | ||||
| Cash Flow - Inv. | -1.43 | -0.18 | -0.83 | ||||
| Cash Flow - Fin. | 0.20 | -0.33 | 0.27 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 24.22 | Current Assets | 15.25 | Current Ratio | 4.19 |
| Total Liab. | 7.54 | Current Liab. | 3.64 | Debt Ratio | 31.14% |
| Total Equity | 16.68 | Working Cap. | 11.61 | Debt to Equity Ratio | 0.45 |
| Cash | 10.80 | Return on Assets | 1.19% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of indebtedness, with the remaining proceeds to be used for capital expenditures, 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 | EquiServe |
| Auditor | Arthur Andersen |
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| Industry Competition |
The Company believes that the independent semiconductor test service industry is fragmented and in an early stage of development. Traditionally, IDMs performed test development and production test services for their products internally. The trend towards outsourcing and the recent success of the fabless companies have altered this traditional business model. The Company believes that the principal competitive factors in the Company�s markets are state-of-the-art test and engineering capabilities, technical competence, software development, flexibility of services offered, quality, price, customer service and support, maturity of sales and services relationships, cycle time, location and available capacity. |
| Business Plan |
The principal components of our strategy to achieve this objective are set forth below: (i) Target Selected Customers in Mixed-Signal, RF and High-Performance Digital IC Markets; (ii) Continue to Develop our Test IP Library; (iii) Pursue Acquisitions of IC Test Operations; (iv) Increase Penetration of Existing Customers and Establish Relationships with New Customers; and (v) Expand our Geographic Presence and Scope of Activities. |
| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Siliconware Investment Company, Ltd. | 31.20 | |
| International Leadframe Corporation | 10.40 | |
| Creative Group Limited | 10.40 | |
| Silicon Foundries | 5.20 | |
| Note: represents ownership of 5% or more prior to the offering. | ||