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

MARCH 29,

2003

COMES NOW,

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

FEB 23, 2003

and ending

MARCH 29, 2003

as shown by the report and exhibits consisting

of

9

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:

15-Apr-03

DEBTOR(S)-IN-POSSESSION

By:

/s/ John J. Sheehan III

(Signature)

(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:

MARCH 2003

1.

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.

20,250.00

8,128.27

10,576.57

10,576.57

JOHN J. SHEEHAN III

12,250.00

8,027.78

3,074.56

3,074.56

JOHN T. DOYLE

13,333.34

9,349.54

2,882.80

2,882.80

TOTAL EXECUTIVE PAYROLL

45,833.34

25,505.59

16,533.93

16,533.93

2.

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:			MARCH 2003
3.	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
4.	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 3/22/03 - 3/29/03
TOTAL COLLECTIONS	364,187.50
TOTAL DISBURSEMENTS	200,063.80

PCD INC	FORMS OPR-1 & OPR-2
BALANCE SHEET
AS AT MARCH 29, 2003
ASSETS:
Cash & Cash Equivlent		1,092,665
Accounts Receivable - Trade		2,915,144
Accounts Receivable - Other		-
Inventory		2,426,041
Prepaid Expenses		206,510
Total Current Assets		6,640,360
Plant, Property, & Equip. - Gross		12,042,288
Accm/Depr		8,638,946
Total Fixed Assets		3,403,342
Deposits		700
Goodwill & Intangibles		200,556
Other Assets		365,967
Total Other Assets		567,223
TOTAL ASSETS		10,610,925
LIABILITIES & EQUITY
Total Debt		41,584,610
Accounts Payable		1,256,737
Accrued Expenses		2,003,196
Total Current Liab.		44,844,543
Other Liab.		-
Total Liabilities		44,844,543
EQUITY
Common Stock/PIC		(49,886,934)
Beginning R/E		16,661,354
Current Earnings		(1,008,038)
Total Equity		(34,233,618)
TOTAL LIAB. & EQUITY		10,610,925

CASE NAME:		PCD Inc					FORM OPR - 3
				SUMMARY OF ACCOUNTS RECEIVABLE
CASE NUMBER:			03-12310
				MONTH ENDED:	Mar-03
					0 - 30	31 - 60	61 - 90	OVER
				TOTAL	DAYS	DAYS	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:
Allowance for doubtful accounts
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:			MARCH 2003
				DATE		DATE	TOTAL	0-30	31-60	61-90	OVER
				INCURRED		DUE	DUE	DAYS	DAYS	DAYS	90 DAYS
TAXES PAYABLE:
	Federal Income Taxes						20,572
	FICA - Employer's share						10,700
	FICA - Employee's share						10,700
	Unemployment Tax						1,137
	State Income Tax - PREPETITION						83,174
	State Sales & Use Tax
	State Income Tax W/H						6,359
	Personal Property Tax
		TOTAL TAXES PAYABLE
PREPETITION SECURED DEBT							41,584,610
PREPETITION UNSECURED DEBT							1,349,058
ACCRUED INTEREST PAYABLE							1,447,589
TRADE ACCOUNTS PAYABLE & OTHER:
	(list separately*)
	Vendor Payables-Post Petition				w/e 3/29	Various	135,986
	Accrued Wages - Post Petition				w/e 3/29	3/31/03	128,415
	Other Accruals (GAAP)						66,243
	TOTALS						44,844,543
*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 MARCH 2003
Total Sales	2,000,229
Cost Of Sales	1,221,676
Gross Margin	778,553
Selling/General/Administrative	718,668
Operating Profit	59,885
Other Exp/(Income)	(10,922)
Interest Exp/(Income)	274,668
Pretax Income/(Loss)	(203,861)
Taxes	-
Net Income/(Loss)	(203,861)

PCD INC			FORM OPR-6
CASH FLOWS
MONTH OF MARCH 2003
SOURCES:
Net Income from Operations		(203,861)
Cash Item - Miscellaneous		86,698
Depreciation and Amortization		146,295
	TOTAL	29,132
APPLICATIONS:
Accounts Receivable		783,621
Inventory		(147,253)
Capital Equipment		15,398
Reduction in Debt		(700,000)
Accounts Payable		(428,070)
Other Working Capital		543,663
	TOTAL	67,359
NET CASH FLOW		(38,227)
BEGINNING CASH		1,130,892
ENDING CASH		1,092,665
OTHER WORKING CAPITAL
Prepaid Assets		4,105
Intercompany		522,186
Accrued Expenses/Payroll		17,372
	TOTAL	543,663