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Aeroflex Holding (ARX) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Aeroflex Holding (NYSE:ARX) makes and sells electrical circuits which are used in high-performance wireless communication systems. These circuits consist of radio frequency or microwave integrated components. These technologies are used by companies in the aerospace, defense, wireless communication, and medical markets.[1]
The company expects that the budget of the U.S. Department of Defense will not grow or only only grow slightly over the next few years. This is due to the departments push to cut its budget and realign spending across its priorities. However, Aeroflex expects that the reprioritization will actually significantly help the company as the DoD pushes to modernize its electrical equipment. Especially after the wear and tear placed on the electrical and wireless systems through combat. In addition, the company expects that the DoD will continue to move towards unmanned systems which require an even greater dependence on the high performance systems that Aeroflex builds.[2]
The company's initial public offering of stock on the NYSE occurred on November 18, 2010. The company offered 17.25M shares each for $13.5. This was at the low end of the initial price range of $13.5-$15.5. The IPO raised a total of $233M. The lead underwriters of the deal were Goldman, Credit Suisse, and J P Morgan Chase (JPM).[3]
Aeroflex's total net sales rose by 9.3% from 2009 to 2010. The company reported figures of $655M in 2010 and $599M in 2009. While this rise in revenues did decrease the net loss, the company continued to report a net loss through 2010. Aeroflex's net loss in 2010 was $12M, while the loss was $77M in 2009.[4]
References
- ↑ ARX S-1/A 2010 PROSPECTUS SUMMARY "Overview" pg 1
- ↑ ARX S-1/A 2010 PROSPECTUS SUMMARY "Industry Overview and Market Opportunity " pg 2-3
- ↑ Renaissance Capital - IPO Home "Aeroflex Holding prices IPO at $13.50, low end of the range" 18 Nov 2010
- ↑ ARX S-1/A 2010 PROSPECTUS SUMMARY "Summary Consolidated Financial Data " pg 11
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