Emerald Systems Plans to Offer 1 Million Shares

By CHRIS KRAUL

June 10, 1987 12 AM PT

Emerald Systems Corp., a manufacturer of products that enhance the storage of computer data, plans to raise between $5 million and $7 million in a 1-million-share initial public stock offering later this month. Proceeds will be used to reduce debt and increase working capital.

In operation since May, 1984, Emerald reported net income of $327,000 on sales of $7.6 million for the year ended Dec. 31, compared to net income of $158,000 on sales of $6.1 million the previous year. The company had 62 employees as of March 31.

The sale of 1 million shares--all newly issued stock being sold by the company--would bring Emerald’s total outstanding shares to 2,984,998. The firm’s leading shareholder is Gunnar Bolz, the founder and chief executive, whose 1.35-million shares will represent 45.2% of the total outstanding after the offering is completed.

Emerald makes electronics that enhance the storage capacity of disk drives for IBM and IBM-compatible personal computers.

Technology and the Internet Business

Chris Kraul

Chris Kraul covered South America for the Los Angeles Times from his base in Bogota, Colombia. He joined the paper in 1987 and was business editor of the San Diego edition until it closed in 1992. He then began covering the border and Mexican economies until his assignment to The Times’ Mexico City bureau in 2001. He reopened the paper’s Bogota bureau in 2006. He has also covered the wars in Afghanistan and Iraq. He is a graduate of the University of South Florida and also has been a reporter at the San Jose Mercury News, San Diego Union-Tribune and the San Diego Business Journal.

Emerald Systems Plans to Offer 1 Million Shares

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