Underwritten by Morgan Stanley, Donaldson Lufkin & Jenrette and Ladenburg Thalman Co., the offering says TMP's gross billings were $596.1 million for the year ended Dec. 31; commissions and fees were $123.9 million and net income was $3.2 million.
TMP's Yellow Pages business billed $425 million, and the company has 30% of the national accounts segment of the U.S. Yellow Pages advertising market, the offering states, including clients Bridgestone/Firestone, Ford Motor Co., Hallmark Cards, Pizza Hut and Mailboxes Etc. The prospectus says TMP's recruitment business generated $165 million in billings last year with a 7% market share in the U.S. and a 6% stake worldwide. Among those clients are Gateway 2000, Compaq Computer Corp., Dean Witter Reynolds, Nike, Target Stores and Darden Restaurants.
The company, moreover, says it has big Internet plans. Having already acquired three recruitment-oriented Web sites, including Adion Information Systems and its Monster Board, the company says only 20% to 30% of open job positions are advertised using traditional print media, leaving ample online opportunity. TMP's Internet recruitment services have generated $600,000 in monthly revenue since May 1995, the offering says.