Lehman starts LQID with a $40 target.
Spitrocks coming today. Prodigy uses them!
A facilities-based provider of advanced data communications services.
CEO: William R. Wilson
CFO: J. Robert Fugate
Filed on: 6/3/99
Ticker: SPLT
Price: $10
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SIC 7370
State of Incorporation DE
Employees, Full-time|Part-time 229 | 36 Contractors
Fiscal Year-End 12/31
Revenue $63.6 Mln (FY 98)
Net Income $(57.8 Mln)
Lead Underwriter BEAR STEARNS & CO INC
Est. Offering Amount 184575000
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RECENT NEWS
8/2/99 The company priced at $10 for trading next day.
8/2/99 The company decreased its price from $13-$15 to $10-$11 and decreased its number of shares from 10,700,000 to 9,000,000.
7/26/99 The company IPO participation now being offered by Wit Capital.
7/6/99 The company set its price to $13-$15 and set its number of shares to 10,700,000.
6/3/99 The company filed for IPO.
The data communications service industry is highly competitive. We expect
that competition will continue to intensify as customers seek additional
capacity to satisfy the continued growth of the Internet. In addition, numerous
competitors, including major telecommunications carriers such as AT&T, MCI
WorldCom, Sprint and Cable & Wireless, are rapidly expanding their data network
capabilities. We believe that the primary competitive factors for the provision
of data network services are quality of service, network coverage, reliability,
price, and service innovation.
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