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| Specialty Laboratories Inc. |
| 2211 Michigan Avenue, Santa Monica, CA 90404 * (310) 828-6543 |
| Business Description | We are a leading research-based clinical laboratory focused predominantly on developing and performing esoteric clinical laboratory tests, which we refer to as assays. |
| Offering Information Company has | |||
| Trading As | SP (NYSE) | Industry | Service (SIC 8071) |
| Type of Stock Offered | Common Shares | Filing Date | 9/12/00 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 12/7/00 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 5,000,000 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $80,000,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | 20,187,507 | Employees | 774 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| UBS Warburg LLC | Co-manager |
| 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 | 12/31/97 | 12/31/98 | 12/31/99 | ||||
| Revenues | - | - | 106.357 | 113.842 | 130.142 | - | - |
| Income from Oper. | - | - | 2.997 | 3.229 | 0.859 | - | - |
| Net Income | - | - | 2.061 | 0.168 | -1.141 | - | - |
| E.P.S | - | - | 0.290 | 0.020 | -0.160 | - | - |
| Revenue Growth (%) | - | - | 7.04 | 14.318 | - | ||
| Net Income Growth (%) | - | - | -91.85 | - | - | ||
| Oper. Profit Margin (%) | - | - | 2.82 | 2.84 | 0.66 | - | - |
| Net Profit Margin (%) | - | - | 1.94 | 0.15 | - | - | - |
| Cash Flow - Oper. | 3.32 | - | - | ||||
| Cash Flow - Inv. | -3.70 | - | - | ||||
| Cash Flow - Fin. | -0.06 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 59.86 | Current Assets | 33.25 | Current Ratio | 1.12 |
| Total Liab. | 41.58 | Current Liab. | 29.63 | Debt Ratio | 69.46% |
| Total Equity | 18.28 | Working Cap. | 3.62 | Debt to Equity Ratio | 2.27 |
| Cash | 0.72 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for the repayment of all of the debt outstanding under our credit facilities, expansion of sales and marketing capabilities, research and development and other general corporate purposes, including working capital. We also may use a portion of our net proceeds to acquire complementary businesses, products or technologies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Brobeck, Phleger & Harrison |
| Bank's Law Firm | Debevoise & Plimpton |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Specialty Family Limited Partnership | 91.10 | |
| Note: represents ownership of 5% or more prior to the offering. | ||