-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VXTjmMAp26j72jLGEASJPkHINzz1AZj0zNIhevj8a/O4sj/plmwHDHSqCMSy8AKD wEMwFNcXDheiXSUa/Uszvg== 0000950128-02-000433.txt : 20020621 0000950128-02-000433.hdr.sgml : 20020621 20020621120041 ACCESSION NUMBER: 0000950128-02-000433 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020521 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020621 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CARBIDE GRAPHITE GROUP INC /DE/ CENTRAL INDEX KEY: 0000888918 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] IRS NUMBER: 251575609 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15055 FILM NUMBER: 02684031 BUSINESS ADDRESS: STREET 1: ONE GATEWAY CTR STREET 2: 19TH FL CITY: PITTSBURGH STATE: PA ZIP: 15222 BUSINESS PHONE: 4125623700 MAIL ADDRESS: STREET 1: ONE GATEWAY CTR STREET 2: 19TH FL CITY: PITTSBURGH STATE: PA ZIP: 15222 8-K 1 j9491201e8vk.txt THE CARBIDE/GRAPHITE GROUP, INC. 8-K ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------ FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported) May 21, 2002 Commission file number: 0-20490 THE CARBIDE/GRAPHITE GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 57-1575609 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) One Gateway Center, 19th Floor Pittsburg, PA 15222 (Address of principal executive offices) (412) 562-3700 (Registrant's telephone number, including area code) None - -------------------------------------------------------------------------------- (former name or former address, if changed since last year) ITEMS 1, 2, 3, 4, 6, 8 AND 9 Not applicable. ITEM 5. OTHER EVENTS As previously disclosed under cover of a Current Report on Form 8-K, the Registrant and its subsidiaries filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Western District of Pennsylvania (the "Bankruptcy Court") on September 21, 2001 in order to allow for an orderly consummation of the Registrant's proposed comprehensive financial restructuring. The Registrant is required to file Monthly Operating Reports with the Bankruptcy Court and the Office of the United States Trustee for the Western District of Pennsylvania (the "U.S. Trustee") pursuant to the U.S. Trustee's Operating Guidelines and Financial Reporting Requirements for Chapter 11 cases. In connection therewith, attached hereto as Exhibit 99.1 is the Monthly Operating Report (the "Report") that the Registrant has filed with the Bankruptcy Court and the U.S. Trustee for the period from April 1, 2002 through April 30, 2002. Certain attachments and exhibits referenced in the Report are not attached as part of Exhibit 99.1, but are available at the Office of the U.S. Trustee and the Bankruptcy Court. In addition, the Registrant agrees that it will furnish a copy of any such omitted attachment or exhibit to the Commission upon request. The Registrant cautions readers not to place undue reliance upon the information contained in the Report, which contains unaudited information, and is in a format, prescribed by the applicable bankruptcy laws. There can be no assurance that the Report is complete. The Report also contains information for periods which may be shorter or otherwise different from those contained in the Registrant's reports pursuant to the Securities Exchange Act of 1934, as amended. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED Not Applicable (b) PRO FORMA FINANCIAL INFORMATION Not Applicable (c) EXHIBIT NO. 99.1 Monthly Operating Report to the U.S. Trustee and the Bankruptcy Court for the period from April 1, 2002 to April 30, 2002 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. THE CARBIDE/GRAPHITE GROUP, INC. By: /s/ Walter B. Fowler -------------------------------------------- Walter B. Fowler - Chief Executive Officer Dated: June 19, 2002 -3- EXHIBIT INDEX EXHIBIT NO. DESCRIPTION ---------- --------------------------------------------------- 99.1 Monthly Operating Report Dated May 21, 2002 EX-99.1 3 j9491201exv99w1.txt EXHIBIT 99.1 Exhibit 99.1 UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF PENNSYLVANIA In re: Carbide Graphite Group, Inc., et al. Case Numbers: 01-0029744 through 01-00297448 MBM - -------------------------------------------- Debtors Reporting Period: April 1 to April 30, 2002
MONTHLY OPERATING REPORT ------------------------
- ----------------------------------------------------------------------------------------------------------------------------------- DOCUMENT EXPLANATION REQUIRED DOCUMENTS FORM NO. ATTACHED ATTACHED - ----------------------------------------------------------------------------------------------------------------------------------- Schedule of Cash Receipts and Disbursements MOR-1 X - ----------------------------------------------------------------------------------------------------------------------------------- Bank Reconciliation (or copies of debtor's bank reconciliation) MOR-1 (CON'T) X - ----------------------------------------------------------------------------------------------------------------------------------- Copies of bank statements X - ----------------------------------------------------------------------------------------------------------------------------------- Cash disbursements journal X - ----------------------------------------------------------------------------------------------------------------------------------- Statement of Operations MOR-2 X - ----------------------------------------------------------------------------------------------------------------------------------- Balance Sheet MOR-3 X - ----------------------------------------------------------------------------------------------------------------------------------- Status of Postpetition Taxes MOR-4 X - ----------------------------------------------------------------------------------------------------------------------------------- Copies of IRS Form 6123 or payment receipt X - ----------------------------------------------------------------------------------------------------------------------------------- Copies of tax returns filed during reporting period X - ----------------------------------------------------------------------------------------------------------------------------------- Summary of Unpaid Postpetition Debts MOR-5 X - ----------------------------------------------------------------------------------------------------------------------------------- Listing of aged accounts payable X - ----------------------------------------------------------------------------------------------------------------------------------- Accounts Receivable Reconciliation and Aging MOR-5 X - ----------------------------------------------------------------------------------------------------------------------------------- Debtor Questionnaire MOR-6 X - -----------------------------------------------------------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief. /s/ William M. Thalman 5/20/02 - --------------------------------------- ----------------- Signature of Debtor Date William M. Thalman VP - Treasurer - --------------------------------------- ------------------------------- Printed Name of Debtor Title CARBIDE/GRAPHITE GROUP, INC. MOR-1 A schedule of cash receipts and disbursements was completed and is available by request Bank reconciliations were performed and are available by request Bank statements are available by request The cash disbursements by legal entity are listed below DISBURSEMENTS BY LEGAL ENTITY 30-APR-02 - -------------------------------------------------- ------------------ LEGAL ENTITY The Carbide/Graphite Group, Inc. $ 10,061,130 Seadrift Coke, L.P. $ 3,735,472 Carbon/Graphite International, Inc. (FSC) (is less than) $15,000 CG Specialty Products Management Corporation (is less than) $15,000 Carbide/Graphite Management Corporation (is less than) $15,000 CARBIDE/GRAPHITE GROUP, INC. MOR-2 CONSOLIDATED STATEMENT OF OPERATIONS FOR THE MONTH ENDED APRIL 30, 2002 (#'S IN '000S) Sales $ 13,265 Cost of goods sold 13,863 ----------- Gross profit (598) SG&A 928 ----------- Operating income before items below (1,526) Other compensation - Other (income) expense, net 162 ----------- Operating income/(loss) (1,688) Non-operating expenses (income): Special financing costs - Interest expense 879 Other non-operating (income)/expense - ----------- Income/(loss) before income taxes (2,567) Provision for income taxes 15 ----------- Net income (loss) from continuing operations (2,582) Extraordinary loss on early extinguishment of debt net of tax benefit - ----------- Net income (loss) $ (2,582) =========== Est. earnings per share data: Income excluding other items $ (0.30) Income before discontinued operations $ (0.31) Extraordinary loss $ - ----------- Net income per share $ (0.31) Weighted average shares 8,331,342 CARBIDE/GRAPHITE GROUP, INC. MOR-3 CONSOLIDATED BALANCE SHEET AS AT APRIL 30, 2002 (#'S IN '000S) ASSETS - ------ Current assets: Cash & short term investments $ 1,711 Marketable securities 0 Accounts receivable Accounts receivable 30,186 Allowance for doubtful accts (3,420) --------- Net accounts receivable 26,766 Inventory Gross inventory 65,748 Obsolescence reserve (840) Lifo reserve (16,133) --------- Net inventory 48,775 Prepaid expenses 2,363 Other current assets 4,027 Deferred tax asset 0 --------- Total current assets 83,642 Fixed assets: Gross 350,757 Accumulated depreciation (240,351) --------- Net fixed assets 110,406 Other assets 6,512 --------- TOTAL ASSETS $ 200,560 ========= LIABILITIES ----------- Current liabilities: Trade accounts payable $ 27,541 Overdrafts 0 Other current liabilities 36,783 Debt - Current 136,038 --------- Total current liabilities 200,362 Long-term debt: Senior notes 0 Line of credit 0 --------- Total long -term debt 0 Long term reserves 15,721 Deferred revenue 1,103 Deferred tax provision 0 --------- TOTAL LIABILITIES 217,186 SHAREHOLDERS' EQUITY -------------------- Common stock 99 Additional paid in capital 36,712 Treasury stock, at cost (11,207) Common stock to be issued under warrants 3,424 Unfunded pension obligation (4,893) Other comprehensive income 0 Retained earnings (40,761) --------- TOTAL SHAREHOLDERS' EQUITY (16,626) --------- TOTAL LIABILITIES AND S.H. EQUITY $ 200,560 ========= THE CARBIDE/GRAPHITE GROUP INC. DEBTOR CASE # 01-29744-MBM STATUS OF POSTPETITION TAXES REPORT PERIOD - APRIL, 2002
Beginning Amount Ending Tax Withheld or Amount Date Check No. Tax Liability Accrued Paid Paid or EFT Liability --------------------------------------------------------------------------------------------------- FEDERAL - ------- Withholding - 320,810.68 63,445.44 4/8/2002 ** - 98,323.75 4/16/2002 ** 60,576.56 4/19/2002 ** 35,761.05 4/30/2002 ** 62,703.88 5/1/2002 ** FICA - Employee 0.04 181,689.57 36,700.72 4/8/2002 ** - 53,761.77 4/16/2002 ** 35,837.66 4/19/2002 ** 21,087.29 4/30/2002 ** 34,302.13 5/1/2002 ** FICA - Employer (0.04) 183,441.47 36,700.77 4/8/2002 ** - 53,993.48 4/16/2002 ** 37,285.79 4/19/2002 ** 21,159.10 4/30/2002 ** 34,302.33 5/1/2002 ** Unemployment 35,914.57 903.55 35,914.57 4/29/2002 903.55 Income - - - Other: Total Federal Taxes 35,914.57 686,845.27 721,856.29 903.55 STATE AND LOCAL - --------------- Withholding - 101,978.14 101,706.46 See Attached 271.68 Sales - 19,067.77 5,402.00 4/18/2002 304621 0.00 6,282.29 EFT 78301/06887 7,383.48 4/26/2002 402656 Excise - - - - Unemployment 385,171.21 7,703.15 140,759.48 See Attached 252,114.88 Real Property - - Personal Property - - Other: Total State and Local Taxes 385,171.21 128,749.06 120,774.23 252,386.56 Total Taxes 421,085.78 815,594.33 842,630.52 253,290.11 ** ADP Statement of Deposits Attached SUI Due KY 109,784.93 NY 136,170.55 NC 162.75 PA 5,804.66 CO 192.00 MISS - OH - ---------------- 252,114.89
THE CARBIDE/GRAPHITE GROUP INC. DEBTOR CASE # 01-29744-MBM STATUS OF POSTPETITION TAXES REPORT PERIOD - APRIL, 2002 State Income Tax Deposits
NY IN KY PA CO OH NC 4/9/2002 6,260.09 4/16/2002 5,704.36 4/18/2002 11,304.92 135.00 4/23/2002 11,665.05 4/24/2002 16,713.96 4/30/2002 6,072.35 5/2/2002 135.00 5/3/2002 11,440.94 5/7/2002 11,738.57 5/9/2002 16,720.62 5/14/2002 3,676.60 139.00 --------------------------------------------------------------------------------------------- 41,440.42 3,676.60 33,434.58 22,745.86 139.00 - 270.00 101,706.46 W/H Deposits PA- SIT 22,745.86 22,745.86 PA-SUI 5,804.66 140,759.48 4/30/2002 NY- SIT 41,440.42 41,440.42 NY-SUI 136.69 KY- SIT 33,434.58 33,434.58 KY-SUI 1,759.20 IN- SIT 3,676.60 3,676.60 CO- SIT 139.00 139.00 CO-SUI - MISS- SIT 271.68 MISS_SUI - OH- SIT - OH-SUI NC- SIT 270.00 270.00 NC- SUI 2.60 SIT 101,978.14 101,706.46 SUI 7,703.15 140,759.48
SEADRIFT COKE L.P. DEBTOR CASE # 01-29744-MBM STATUS OF POSTPETITION TAXES REPORT PERIOD - APRIL, 2002
Beginning Amount Ending Tax Withheld or Amount Check No. Tax Liability Accrued Paid or EFT Liability ----------------------------------------------------------------------------------------------- FEDERAL - ------- Withholding - 54,649.01 27,071.49 4/16/2002 ** - 27,577.52 4/30/2002 ** - FICA - Employee - 33,267.71 16,583.46 4/16/2002 ** - 16,684.25 4/30/2002 ** - FICA - Employer - 33,267.84 16,583.45 4/16/2002 ** 0.01 16,684.38 4/30/2002 ** - Unemployment 6,195.52 2.74 6,195.52 4/29/2002 ** 2.74 Income - Other: Total Federal Taxes 6,195.52 121,187.30 127,380.07 2.75 STATE AND LOCAL - --------------- Withholding - - Sales - 2,448.34 2,448.34 4/17/2002 41577 - Excise - - Unemployment 16,958.67 - 16,958.67 4/29/2002 ** - Real Property - - Personal Property - - Other: - - Total State and Local Taxes 16,958.67 2,448.34 19,407.01 - Total Taxes 23,154.19 123,635.64 146,787.08 2.75
** ADP Statement of Deposits Attached MOR-5 THE CARBIDE/GRAPHITE GROUP, INC. CONSOLIDATED ACCOUNTS PAYABLE AGING APRIL 30, 2002
TOTAL 0 - 30 DAYS 31 - 60 DAYS 61 - 90 DAYS 91 - 120 DAYS PRE-PETITION - -------------------------------------------------------------------------------------------------------------------------------- $ 24,643,576 $ 3,341,886 $ 527,156 $ 45,709 $ 6,689 $20,722,136 - --------------------------------------------------------------------------------------------------------------------------------
A summary of unpaid post petition debts has been completed and is available upon request THE CARBIDE/GRAPHITE GROUP, INC. CONSOLIDATED ACCOUNTS RECEIVABLE AGING APRIL 30, 2002
0 - 30 DAYS 31 - 60 DAYS 61 - 90 DAYS 91 - 120 DAYS OVER 120 DAYS TOTAL OUTSTANDING OUTSTANDING OUTSTANDING OUTSTANDING OUTSTANDING - -------------------------------------------------------------------------------------------------------------------------------- $ 24,567,666 $13,620,720 $ 4,273,223 $ 2,866,247 $ 1,075,211 $ 2,732,266 - --------------------------------------------------------------------------------------------------------------------------------
An accounts receivable reconciliation has been completed and is available upon request. -----END PRIVACY-ENHANCED MESSAGE-----