EX-99.2 4 dex992.txt BALANCE SHEETS 10/28/01-12/01/2001 Exhibit 99.2 Page 6
CASE NAME: Aerovox, Inc. COMPARATIVE BALANCE SHEET FORM OPR-1 CASE NUMBER: 01-14680 jnf FOR MONTH ENDED: MONTH MONTH MONTH MONTH MONTH 06/30/2001 07/28/2001 08/25/2001 09/29/2001 10/27/2001 --------------- ---------------------------------------------------------- ASSETS CURRENT ASSETS: Cash 2,120,007 3,216,732 2,647,429 3,309,063 3,942,222 ------------ ------------ ------------ ------------ ------------ Other negotiable instruments (i.e. CD's, 0 0 0 0 0 ------------ ------------ ------------ ------------ ------------ Treasury Bills, etc.) Accounts Receivable, Gross (OPR-3) 9,542,941 8,296,232 8,653,189 8,252,242 7,769,402 ------------ ------------ ------------ ------------ ------------ Less: Allowance for doubtful accounts (470,686) (489,852) (1,289,852) (1,304,057) (1,327,909) ------------ ------------ ------------ ------------ ------------ Inventory, at cost 12,346,523 12,306,850 2,086,700 11,548,622 11,492,000 ------------ ------------ ------------ ------------ ------------ Prepaid expenses and other current assets 692,636 774,440 132,026 93,066 50,405 ------------ ------------ ------------ ------------ ------------ Other: Intercompany receivables (payables) 1,445,351 1,318,033 1,836,725 709,372 425,860 ------------ ------------ ------------ ------------ ------------ TOTAL CURRENT ASSETS $ 25,676,771 $25,423,335 $24,066,217 $ 22,608,307 $ 22,351,980 ------------ ------------ ------------ ------------ ------------ PROPERTY, PLANT, AND EQUIPMENT, AT COST 50,399,555 50,422,044 60,457,405 50,491,398 50,501,177 ------------ ------------ ------------ ------------ ------------ Less: Accumulated Depreciation (23,756,755) (24,037,799) (24,324,559) (24,567,963) (24,853,350) ------------ ------------ ------------ ------------ ------------ NET PROPERTY, PLANT AND EQUIPMENT $ 26,642,800 $ 26,384,245 $26,132,847 $ 25,923,435 $ 25,647,828 ------------ ------------ ------------ ------------ ------------ OTHER ASSETS Investments 14,331,200 14,380,821 14,437,685 15,789,439 15,663,076 ------------ ------------ ------------ ------------ ------------ Other: Def. Fin. Cost and Org Costs 177,604 176,521 175,438 174,355 173,272 ------------- ------------ ------------ ------------ ------------ Other Assets (includes deposits) 4,772,560 4,800,629 5,301,886 5,119,287 5,223,585 ------------ ------------ ------------ ------------ ------------ TOTAL ASSETS $ 71,600,935 $ 71,165,551 $ 70,114,072 $ 69,614,823 $ 69,059,741 ============ ============ ============ ============ ============ MONTH 12/01/2001 ----------------- ASSETS CURRENT ASSETS: Cash 4,479,522 ------------- Other negotiable instruments (i.e. CD's, 0 ------------- Treasury Bills, etc.) Accounts Receivable, Gross (OPR-3) 7,467,141 ------------- Less: Allowance for doubtful accounts (1,340,439) ------------- Inventory, at cost 10,832,578 ------------- Prepaid expenses and other current assets 86,073 ------------- Other: Intercompany receivables (payables) 193,415 ------------- TOTAL CURRENT ASSETS $ 21,718,290 ------------- PROPERTY, PLANT, AND EQUIPMENT, AT COST 50,522,978 ------------- Less: Accumulated Depreciation (25,145,749) ------------- NET PROPERTY, PLANT AND EQUIPMENT $ 25,377,229 ------------- OTHER ASSETS Investments 15,712,152 ------------- Other: Def. Fin. Cost and Org Costs 172,189 ------------- Other Assets (includes deposits) 5,347,997 ------------- TOTAL ASSETS $ 68,327,858 =============
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CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680 jnf FORM OPR-2 MONTH MONTH MONTH MONTH 30-Jun-01 28-Jul-01 25-Aug-01 29-Sep-01 --------------- --------------- -------------- --------------- LIABILITIES POST PETITION LIABILITIES (OPR-4) 1,237,839 966,949 1,214,663 1,295,437 --------------- --------------- -------------- --------------- PRE PETITION LIABILITIES Priority Debt 639,007 834,979 794,862 855,449* --------------- --------------- -------------- --------------- Secured Debt 28,505,919 28,505,919 28,505,919 29,300,919** --------------- --------------- -------------- --------------- Unsecured Debt 20,242,342 20,673,500 20,304,617 19,509,617** --------------- --------------- -------------- --------------- TOTAL PRE PETITION LIABILITIES 49,387,269 50,014,399 49,605,398 49,665,985 --------------- --------------- -------------- --------------- OTHER LIABILITIES PER BOOK 4,604,697 4,604,697 4,604,697 5,285,408 --------------- --------------- -------------- --------------- TOTAL LIABILITIES 55,229,805 55,586,045 55,424,758 56,246,831 --------------- --------------- -------------- --------------- SHAREHOLDER'S EQUITY (DEFICIT) REDEEMABLE COMMON STOCK 1,762,800 1,670,495 1,482,800 1,524,800 --------------- --------------- -------------- --------------- COMMON STOCK 5,450,979 5,450,979 5,450,979 5,450,979 --------------- --------------- -------------- --------------- PAID IN CAPITAL 1,172,366 1,172,366 1,172,366 1,172,366 --------------- --------------- -------------- --------------- RETAINED EARNINGS Through Filing Date 9,674,670 9,674,670 9,674,670 9,674,670 --------------- --------------- -------------- --------------- Post Filing Date 133,124 (437,156) (1,119,359) (1,931,786) --------------- --------------- -------------- --------------- ACCUMULATED OTHER COMPREHENSIVE PROFIT (LOSS) (1,822,809) (1,951,849) (1,972,142) (2,523,036) --------------- --------------- -------------- --------------- TOTAL SHAREHOLDERS' EQUITY 16,371,130 15,579,505 14,689,315 13,367,992 --------------- --------------- -------------- --------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $71,600,935 $71,165,551 $70,114,072 $69,614,823 =============== =============== ============== =============== MONTH MONTH 10/27/01 12/01/01 -------------- ------------- LIABILITIES POST PETITION LIABILITIES (OPR-4) 1,780,479 2,087,607 -------------- ------------- PRE PETITION LIABILITIES Priority Debt 804,373 777,612 -------------- ------------- Secured Debt 29,300,919 29,300,919 -------------- ------------- Unsecured Debt 19,509,617 19,509,617 -------------- ------------- TOTAL PRE PETITION LIABILITIES 49,614,910 49,588,148 -------------- ------------- OTHER LIABILITIES PER BOOK 5,285,408 5,285,408 -------------- ------------- TOTAL LIABILITIES 56,680,798 56,961,164 -------------- ------------- SHAREHOLDER'S EQUITY (DEFICIT) REDEEMABLE COMMON STOCK 1,373,800 1,253,800 -------------- ------------- COMMON STOCK 5,450,979 5,450,979 -------------- ------------- PAID IN CAPITAL 1,172,366 1,172,366 -------------- ------------- RETAINED EARNINGS Through Filing Date 9,674,670 9,674,670 -------------- ------------- Post Filing Date (2,669,197) (3,559,922) -------------- ------------- ACCUMULATED OTHER COMPREHENSIVE PROFIT (LOSS) (2,623,675) (2,625,199) -------------- ------------- TOTAL SHAREHOLDERS' EQUITY 12,378,943 11,366,694 -------------- ------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $69,059,741 $68,327,858 ============== =============
* Massachusetts state income tax liability calculated to be $77,000, and various franchise tax liability totaling $38,000 over the amount previously accrued. ** Corrections to classifications of two liabilities: 1.) Reclassification of Industrial Revenue Bond liability from secured to unsecured ($684,000). 2.) Reclassification of note payable to prior owners of Mexico City business guarenteed by pledge of Aerovox de Mexico stock from unsecured to secured ($1,591,000).