Corporate Profile for RDO Equipment Co., dated Feb. 14, 1997.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine, CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier, NewsBank, Information Access Company, Prodigy, Comtex, and many others. -0-
Published Date: Feb. 14, 1997
Company Name: RDO Equipment Co.
Address: 2829 South University Dr.,
Fargo, ND 58103
Main Telephone
Number: 701/239-8730
Chairman: Ronald D. Offutt
President: Paul T. Horn
Chief Financial
Officer: Allan F. Knoll
Investor Relations
Contact: Richard J. Moen
Business number: 701/237-7363
Home number: n/a
e-mail address: n/a
Public Relations
Contact: Richard J. Moen
Business number: 701/237-7363
Home number: n/a
e-mail address: n/a
URL Address: n/a
Trading Symbol: NYSE:RDO
Industry: Sales and rental of agricultural and industrial
equipment and services
Company description: RDO (Remote Data Objects) A programming interface for data access from Microsoft. It is used in Visual Basic to access remote ODBC databases. See DAO, ADO, OLE DB and ODBC. Equipment Co. owns and operates the largest networks of John Deere industrial dealerships and agricultural dealerships in the United States. The Company sells, services and rents industrial and agricultural equipment, primarily supplied by Deere & Company. The Company has 32 stores which are located in Arizona, California, Minnesota, North Dakota, South Dakota, Texas and Washington. The Company's revenues have grown at a compound annual rate of 33% over the past five years, from $71.2 million in fiscal 1992 to $223.6 million in fiscal 1996. Revenues for the first nine months of fiscal 1997 were $229.3 million. On January 24, 1997, the Company announced the initial public offering of 4.2 million shares of Class A Common Stock at $15.50 per share. In addition, the underwriters exercised the over-allotment option in the amount of 630,000 shares of Class A Common Stock. Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. and Dain Bosworth Incorporated were the managers of the underwriting syndicate Underwriting syndicate A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter. See also: Lead underwriter. underwriting syndicate See syndicate. offering these shares to the public. The Company is using the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the initial public offering to repay indebtedness, make a distribution of previously undistributed Adj. 1. undistributed - (of investments) not distributed among a variety of securities undiversified - not diversified net income to existing stockholders for which they paid taxes while the Company was an S-corporation, and finance future acquisitions and internal growth. CONTACT: RDO EQUIPMENT CO. |
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