Traditional Industries, a Westlake Village-based firm that markets photographic supplies and photo finishing services, hopes to raise up to $8.3 million by selling stock to the public.
According to a preliminary prospectus filed with the Securities and Exchange Commission, Traditional Industries will offer 758,334 shares and Martin Osman, a consultant to the company, will offer another 41,666 shares to the public. The prospectus said the stock price is expected to be between $9 and $11 a share, which would raise from $6.8 million to $8.3 million for the company.
Traditional Industries sells packages that typically include a camera, a photo album and coupons offering discounts for film processing. The price of the packages ranges from $300 to $800. The company's main customers are newlyweds and couples with babies who live in small towns that do not have photo finishing facilities.
The Traditional Industries prospectus reported that company revenues rose 45%, to $13.4 million, in the fiscal year ended last June 30. Net income rose less than 1% from the previous year to $810,000.