pcdinc

EX-1 3 pcdinc.htm PCD INC APRIL 2003 OPERATING STATEMENTS pcdinc

UNITED STATES BANKRUPTCY COURT

EASTERN DISTRICT OF MASSACHUSETTS

CASE NO:

03-12310

IN RE:

PCD INC

JUDGE:

Kenner

CHAPTER 11

DEBTOR(S)

MONTHLY OPERATING REPORT FOR MONTH ENDING

APRIL 30,

2003

COMES NOW,

Debtor-in-possession, and hereby submits its Monthly Operating Report for the period commencing

MARCH 30, 2003

and ending

APRIL 30, 2003

as shown by the report and exhibits consisting

pages and containing the following, as indicated:

XXXXX

Monthly Reporting Questionnaire (Attachment 1)

XXXXX

Comparative Balance Sheets (Forms OPR-1 & OPR-2)

XXXXX

Summary of Accounts Receivable (Form OPR-3)

XXXXX

Schedule of Post-petition Liabilities (From OPR-4)

XXXXX

Income Statement (Form OPR-5)

XXXXX

Statement of Sources and Uses of Cash (Form OPR-6)

I declare under penalty of perjury that this report and all attachments are true and correct to the best

of my knowledge and belief.

Date:

DEBTOR(S)-IN-POSSESSION

By:

/s/ John J. Sheehan III

(Signature)

Name & Title:

JOHN J. SHEEHAN III

(Print or type)

Address:

2 TECHNOLOGY DRIVE

PEABODY, MA 01960

Telephone No.:

(978) 532-8800

ATTACHMENT 1 (Page 1)

CHAPTER 11

MONTHLY OPERATING REPORT

MONTHLY REPORT QUESTIONNAIRE

CASE NAME:

PCD INC

CASE NUMBER:

03-12310

MONTH OF:

APRIL 2003

Payroll:

State the amount of all executive wages paid and taxes withheld and paid

Name and Title

Wages Paid

Taxes Withheld

of Executive

Gross

Net

Due

Paid

JOHN L. DWIGHT, JR.

20,204.00

8,089.00

10,533.06

JOHN J. SHEEHAN III

12,250.00

8,027.76

3,074.58

JOHN T. DOYLE

13,333.34

9,349.54

2,882.80

TOTAL EXECUTIVE PAYROLL

45,787.34

25,466.30

16,490.44

Insurance:

Is worker's compensation and other insurance in effect?

YES

Are payments

current?

YES

If any policy has lapsed, been replaced or renewed, state so

in the schedule below. Attach a copy of the new policy's binder or cover page.

Date

Carrier

Coverage

Expiration

Premium

Coverage

Type

Name

Amount

Policy #

Date

Amounts

Pd. Thru

Homeowners

Rental Property

Liability

Vehicle

Workers

Compensation

Other

ATTACHMENT 1 (Page 2)

REV. 1/92

CHAPTER 11

MONTHLY OPERATING REPORT

MONTHLY REPORT QUESTIONNAIRE

CASE NAME:

PCD INC

CASE NUMBER:

03-12310

MONTH OF:

APRIL 2003

Bank Accounts:

ACCOUNT TYPE

Operating

Corp

Payroll

Other

Total

Bank Name

SEE ATTACHED

Account #

BEGINNING BOOK BALANCE

PLUS: Deposits

LESS: Disbursements

Other:

Transfers In (Out)

ENDING BANK BALANCE

Post-petition payments: List any post-petition payments to professionals and payments on pre-petition debts in the schedule below (attach separate sheet if necessary).

Payments To/On

Amount

Date

Check #

Professionals (attorneys,

accountants, etc.):

NONE

Pre-petition debts:


PCD INC
ATTACHMENT TO CHAPTER 11 MONTHLY OPERATING REPORT
FOR THE PERIOD 3/30/03 - 4/30/03


TOTAL COLLECTIONS				1,440,597.65

TOTAL DISBURSEMENTS				1,086,569.84


PCD INC	FORMS OPR-1 & OPR-2
BALANCE SHEET
AS AT APRIL 30, 2003


ASSETS:
Cash & Cash Equivalent		1,910,167
Accounts Receivable - Trade		2,446,393
Accounts Receivable - Other		-
Inventory		2,484,875
Prepaid Expenses		80,895
Total Current Assets		6,922,330

Plant, Property, & Equip. - Gross		12,061,479
Accm/Depr		8,721,950
Total Fixed Assets		3,339,529

Deposits		700
Goodwill & Intangibles		200,556
Other Assets		365,757
Total Other Assets		567,013

TOTAL ASSETS		10,828,872

LIABILITIES & EQUITY
Total Debt		41,584,610
Accounts Payable		1,206,572
Accrued Expenses		2,058,926
Total Current Liab.		44,850,108

Other Liab.		-
Total Liabilities		44,850,108

EQUITY
Common Stock/PIC		(49,465,420)
Beginning R/E		16,661,354
Current Earnings		(1,217,170)
Total Equity		(34,021,236)

TOTAL LIAB. & EQUITY		10,828,872

CASE NAME:

PCD Inc

FORM OPR - 3

SUMMARY OF ACCOUNTS RECEIVABLE

CASE NUMBER:

03-12310

MONTH ENDED:

APRIL 2003

0 - 30

31 - 60

61 - 90

OVER

TOTAL

DAYS

90 DAYS

DATE OF FILING:

21-Mar-03

Allowance for doubtful accounts

MONTH:

29-Mar-03

3,038,361

2,378,273

519,961

(23,837)

163,964

Allowance for doubtful accounts

(123,217)

2,915,144

MONTH:

30-Apr-03

2,570,860

2,388,373

89,575

7,528

85,384

Allowance for doubtful accounts

(124,467)

2,446,393

MONTH:

Allowance for doubtful accounts

MONTH:

Allowance for doubtful accounts

MONTH:

Allowance for doubtful accounts

MONTH:

Allowance for doubtful accounts

CASE NAME:

PCD Inc

FORM OPR - 4

SCHEDULE OF POST PETITION LIABILITIES

CASE NUMBER:

03-12310

MONTH ENDED:

APRIL 2003

DATE

TOTAL

0-30

31-60

61-90

OVER

INCURRED

DUE

DAYS

90 DAYS

TAXES PAYABLE:

Federal Income Taxes

10,267

FICA - Employer's share

4,896

FICA - Employee's share

4,896

Unemployment Tax

293

State Income Tax - PREPETITION

83,174

State Sales & Use Tax

State Income Tax W/H

2,888

Personal Property Tax

TOTAL TAXES PAYABLE

PREPETITION SECURED DEBT

41,584,610

PREPETITION UNSECURED DEBT

1,275,901

ACCRUED INTEREST PAYABLE

1,447,589

TRADE ACCOUNTS PAYABLE & OTHER:

(list separately*)

Vendor Payables-Post Petition

m/e 4/30

Various

52,372

Accrued Wages - Post Petition

m/e 4/30

5/2/03

33,770

Other Accruals (GAAP)

349,452

TOTALS

44,850,108

*Attach separate page if necessary.

Note: Total post petition liabilities shown here must agree with the same item as shown on Form OPR-2 of this report.


PCD INC		FORM OPR-5
INCOME STATEMENT
FOR THE MONTH OF APRIL 2003


Total Sales		958,199
Cost Of Sales		759,915

Gross Margin		198,284

Selling/General/Administrative		388,729

Operating Profit		(190,445)

Other Exp/(Income)		(7,247)
Interest Exp/(Income)		25,935

Pretax Income/(Loss)		(209,133)
Taxes		-

Net Income/(Loss)		(209,133)


PCD INC			FORM OPR-6
CASH FLOWS
MONTH OF APRIL 2003



SOURCES:
Net Income from Operations		(209,133)
Cash Item - Miscellaneous		-
Depreciation and Amortization		83,004

	TOTAL	(126,129)


APPLICATIONS:
Accounts Receivable		(468,751)
Inventory		58,834
Capital Equipment		19,191
Accounts Payable		50,165
Other Working Capital		(603,070)

	TOTAL	(943,631)

NET CASH FLOW		817,502

BEGINNING CASH		1,092,665

ENDING CASH		1,910,167


OTHER WORKING CAPITAL
Prepaid Assets		(125,615)
Intercompany		(421,516)
Other Assets		(208)
Accrued Expenses/Payroll		(55,731)

	TOTAL	(603,070)