EX-99.1 3 dex991.txt MONTHLY REPORTING QUESTIONNAIRE Exhibit 99.1 UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MASSACHUSETTS IN RE: Aerovox, Inc. CASE NO.: 01-14680jnf JUDGE: Joan N. Feeney DEBTOR CHAPTER 11 MONTHLY OPERATING REPORT FOR MONTH ENDING March 30, 2002 COMES NOW, AEROVOX, INC. Debtor-In-Possession and hereby submits its Monthly Operating Report for the period commencing February 24, 2002 and ending March 30, 2002 as shown by the report and exhibits consisting of 13 pages and containing the following, as indicated: Pages ----- 1 - 6 Monthly Reporting Questionnaire (Attachment 1) 7 - 8 Comparative Balance Sheets (Forms OPR-1 & OPR-2) 9 Summary of Accounts Receivable (Form OPR-3) 10-11 Schedule of Post-petition Liabilities (Form OPR-4) 12 Income Statement (Form OPR-5) 13 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: April 14, 2002 DEBTOR(S)-IN-POSSESSION By: ------------------------------ (Signature) -------------------------------- (Signature) Name & Title: F. Randal Hunt -------------- CFO & Sr. Vice President ------------------------- Address: 167 John Vertente Blvd. ----------------------- New Bedford, MA 02745 ------------------------- Telephone: (508) 910-3200 -------------- Exhibit 99.1 Attachment 1 Page 1 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH ENDED: March 30, 2002 1. Payroll: State the amount of all executive wages paid and taxes withheld -------- and paid.
Name and Title of Executive Wages Paid Taxes Withheld --------------------------- -------------------- ----------------- Gross Net Due Paid ------ ------ --- ------ Robert D. Elliott CEO & President 38,462 20,801 0 14,204 F. Randal Hunt CFO & Sr. Vice 14,904 9,053 0 4,735 President Martin Hudis Sr. VP Technology 19,231 11,702 0 5,786 TOTALS 72,597 41,556 0 24,725
Exhibit 99.1 Attachment 1 Page 2 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH ENDED: March 30, 2002 2. Insurance: Is workers' compensation and other insurance in effect? Yes ---------- Are payments current? Yes If any policy has lapsed, been replaced or renewed, state so in schedule below. Attach a copy of the new policy's binder or cover page.
Coverage Expiration Date Type Carrier Name Amount Policy # Date Premium Coverage ---- ------------ ------ -------- ---- ---------------- Homeowners NONE Rental Property NONE Liability See Attached Vehicle Workers See Attached Compensation
Exhibit 99.1 Attachment 1 Page 3 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH ENDED: March 30, 2002 3. Bank Accounts -------------
Payroll Operating Operating Operating Debit Card ------- --------- --------- --------- ---------- Bank Name Citizens Citizens Fleet Fleet Citizens Account # 110315-944-2 1103-159-450 9429117763 50010879 1103159469 Beginning Book Balance 17711.32 287973.63 233945.01 0 5254.63 Plus: Deposits 646007.70 4749098.73 4155134.94 0 0 Less: Disbursements -645151.49 -4865105.40 0 -3346.08 Other: Transfers In/Out 0 1000000.00 -4102753.40 0 0 - ---------- ----------- - - Ending Book Balance 18567.53 1171966.96 286326.55 0 1908.55 3. Bank Accounts-continued Savings Checking Payroll TOTALS ------- -------- ------- ------ Bank Name Citizens Keybank Fleet Account # 1103159507 19968100261 005119-1739 Beginning Book Balance 3000000.00 0 0 3,544,884.59 Plus: Deposits 3703.01 0 9,553,944.38 Less: Disbursements 0 0 0 -5,513,602.97 Other: Transfers In/Out -1000000.00 0 -4,102,753.40 ----------- - ------------- Ending Book Balance 2003703.01 0 0 3,482,472.60
Exhibit 99.1 Attachment 1 Page 4 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH ENDED: March 30, 2002 4. Post-petition Payments: List any post-petition payments to professionals and payments on post-petition debts in the schedule below (attach separate sheet if necessary).
Payments To/On Amount Date Check # -------------- ------ ---- ------- Professionals (attorneys, accountants, etc.) Argus Management 6,260.90 03/01/02 Wire Transfer Argus Management 4,483.60 03/08/02 Wire Transfer Argus Management 528.00 03/15/02 Wire Transfer Argus Management 7,213.20 03/28/02 Wire Transfer Argus Management 8,771.50 03/01/02 Ck # 4616 Pre-petition debts: None
Exhibit 99.1 Attachment 1 Page 5 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE CASE NAME: Aerovox, Inc. CASE NUMBER: 01-14680jnf MONTH ENDED: March 30, 2002
Coverage Expiration Type Carrier Name Amount Policy # Premium Coverage ---- ------------ ---------- ------------- ----------------- Umbrella Liability Royal Insurance Co. of America 44,010,000 PLA3793390001 12/31/01-12/31/02 Flood Ins National Flood Ins. Program 1,000,000 3000240294 03/07/01-03/07/02 Int'l Property American & Foreign Ins. Co. 15,115,000 AIB0095150001 12/31/01-12/31/02 International General American & Foreign Ins. Co. $2,000,000 AIB95150001 12/31/01-12/31/02 Liability aggregate limit International Auto American & Foreign Ins. Co. $1,000,000 CSL AIB5150001 12/31/01-12/3102 Domestic Property Affiliated FM Ins Co 89,112,103 AL219 12/31/01-12/31/02 Domestic Auto American & Foreign Ins. Co. 3,038,000 AMHX184690 12/31/01-12/31/02 General Liability & American & Foreign Ins. Co. 7,110,000 AST1127530001 12/31/01-12/31/02 Employee Benefits Liability D&O Federal Ins. Co. 7,500,000 81303380E 12/31/01-07/01/02 *Workers Comp Fidelity & Deposit (Fid. Bond) 2,800,000 #LPM 833508503 Bond still in place for prev. open claims Workers Comp Aim Mutual Ins. Co. 1,500,000 WCC500044901-2001 11/01/01-12/31/02 *Employee H&W BCBS 2,000,000 #0004119 01/01/02-12/31/02 Benefits Medical Claims #MLN00374 Delta Dental #1128 Workers Comp Security Ins Co of Hartford (AL & TX) 1,500,000 NNE10058500 10/01/01-10/01/02 Errors & Omissions Royal & SunAlliance Ins. Co. $2,000,000 ALB001539 12/31/01-12/31/02 aggregate limit Mexico Property Seguros Commercial America $17,388,352 QR100496 12/31/01-12/31/02 Mexico General Seguros Commercial America $100,000 LR100072 12/31/01-12/31/02 Liability aggregate Executive Protection Federal Ins. Co. $1,000,000 limit 81595611B 07/19/01-07/19/02