Perot Systems Corp has confirmed that an initial public offering is part of interim chief executive Ross Perot’s plans for the company but it won’t say when it will happen or how much it’s looking to raise from an IPO. Since founder Perot reassumed control of the company as interim chief executive last November, he’s been whipping it into shape, with a particular emphasis on reining in spending and taking the private consulting firm public. Various reports have said an IPO worth as much as $2.0bn is imminent, but a Perot Systems spokesperson that going public isn’t a pressing need right now because the company’s balance sheet is the best its ever been, and shows no debt. One would assume that such praise means that the company has more cash than it showed on its last available earnings report in November when it had only $13m – not much for a company with nine-month revenues of more than $550m. To date, none of the requisite filings for an IPO have been made with the Securities and Exchange Commission.
