1994 Highlights - Awards, Honors and Articles

• Mity-Lite IPO and NASDAQ Listing
• SDS Customer Satisfaction Leadership Award for 1994
• No. 12 on Forbes list of 200 Best Small Companies
• Mity-Lite featured in Investor's Business Daily

Investor's Business Daily Feature

09/21/1994

In an effort to prove its lightweight folding tables are most definitely mighty, the company's promotional video vividly demonstrates people pounding and jumping on the tables. In another scene, a child picks one up. While many of its competitors have greater name recognition and financial clout, Mity-Lite believes it has been able to increase market share by emphasizing the quality and performance of its tables and chairs.

For instance, Mity-Lite tables carry a five-year warranty, compared to 90-day warranties typical of other furniture manufacturers.

"Our lawyers tell us five years is every bit as good as a lifetime," said Gregory L. Wilson, chairman and president of the Orem, Utah-based company.

The table and multi-purpose room furniture industry consists of a fragmented group of about 60 major manufacturers that share a $1 billion market.

In an attempt to bolsters its image, Mity-Lite is planning a marketing blitz, primarily at trade shows, to support the introduction of new lines of chairs.

The company primarily markets its products directly to end users through its in-house staff of sales and customer service personnel. The phone, fax and videotapes have proven to be successful tools for marketing Mity-Lite tables.

"Eighty percent of our sales are direct," said Bradley Nielson, chief financial officer. "The rest is through dealers and manufacturer representatives."

Mity-Lite was formed in 1987 by Wilson when he was in the church furniture business. The company successfully applied engineering grade plastics and sophisticated manufacturing and assembly methods to produce tables that weigh less and are more durable than competing particle board or plywood products. The tables are made using a heat- and-vacuum thermoforming process. In addition, it has implemented a number of changes to its manufacturing process and product designs, which have resulted in increased production volumes, improved quality and lower costs.

In a survey of customers taken nine months ago, 98% said they received good or excellent products from Mity-Lite . Moreover, 96% said the company provides good or excellent service and 93% said they would be reordering from the company.

(Copyright Investor's Business Daily, Inc. 1994. To Subscribe Call (800) 733-8900.)

Mity-Lite listed Number 12 on Forbes list of 200 Best Small Companies

10/24/1994

Mity-Lite recognized as one of the Nations Best Small Companies and listed as number 12 on Forbes list of 200 Best Small Companies.

National Association of Securities Dealers announced new Mity-Lite listing on NASDAQ

May 9, 1994

The NASDAQ national market system began trading the initial offerings of Mity-Lite Inc., Orem, Utah, a maker of folding-leg tables and related products, MITY; Mity-Lite 900,000 Share IPO priced at $5.25 a Share.

Mity-Lite Initial Public Offering

04/28/1994

An initial offering of 900,000 common shares of Mity-Lite Inc. was priced at $5.25 each through underwriters led by Pacific Crest Securities Inc. The company had expected the shares to be offered between $5.00 and $5.50 each. Gross spread is 47.25 cents, selling concession is 23 cents and reallowance is 10 cents. Delivery is scheduled for May 6.

Mity-Lite Files For Initial Public Offering Of 900,000 Shares

April 6, 1994

Mity-Lite Inc. said it filed with the Securities and Exchange Commission for an initial public offering of 900,000 common shares. In a press release, the company said it anticipates the initial public offering price will be between $5 and $5.50 a share.

The company said it sees the completion of the offering this month or next. Subject to the offering's completion, the company's common shares have been approved for quotation on the NASDAQ National Market System under the symbol ''MITY.''