-----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, S6fWtXZu0crGw5APJOYQpchmK7eyteQd2S4qHNLYz7j0LpcRtU00tKbn2j7Xw9FR 4XeOt4COlmOJ6vIyMa1lTw== 0000950128-02-000545.txt : 20020806 0000950128-02-000545.hdr.sgml : 20020806 20020806105208 ACCESSION NUMBER: 0000950128-02-000545 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020726 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020806 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: 02720261 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 j9571901e8vk.txt FORM 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) July 26, 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 Pittsburgh, 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 June 1, 2002 through June 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 June 1, 2002 to June 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: August 2, 2002 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION ------- ----------- 99.1 Monthly Operating Report Dated July 26, 2002 EX-99.1 3 j9571901exv99w1.txt MONTHLY OPERATING REPORT Exhibit 99.1 UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF PENNSYLVANIA In re: Carbide Graphite Group, Inc., et al. - -------------------------------------------- Debtors Case Numbers: 01-0029744 through 01-00297448 MBM Reporting Period: June 1 to June 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 26-Jul-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 JUNE-02 - --------------------------------------------------- ------------------ Legal Entity The Carbide/Graphite Group, Inc. $ 8,279,179 Seadrift Coke, L.P. $ 3,513,995 Carbon/Graphite International, Inc. (FSC) less than $ 15,000 CG Specialty Products Management Corporation less than $ 15,000 Carbide/Graphite Management Corporation less than $ 15,000 CARBIDE/GRAPHITE GROUP, INC. MOR-2 CONSOLIDATED STATEMENT OF OPERATIONS FOR THE MONTH ENDED JUNE 30, 2002 (#'S IN '000S) Sales $ 12,615 Cost of goods sold 12,886 ---------- Gross profit (271) SG&A 820 ---------- Operating income before items below (1,091) Other compensation - Other (income) expense, net 169 ---------- Operating income/(loss) (1,260) Non-operating expenses (income): Special financing costs - Interest expense 1,242 Other non-operating (income)/expense - ---------- Income/(loss) before income taxes (2,502) Provision for income taxes (2,236) ---------- Net income (loss) from continuing operations (266) Extraordinary loss on early extinguishment of debt net of tax benefit - ---------- Net income (loss) $ (266) ========== Est. earnings per share data: Income excluding other items $ (0.02) Income before discontinued operations $ (0.03) Extraordinary loss $ - ---------- Net income per share $ (0.03) Weighted average shares 8,331,342
CARBIDE/GRAPHITE GROUP, INC. MOR-3 CONSOLIDATED BALANCE SHEET AS AT JUNE 30, 2002 (#'S IN '000S) ASSETS Current assets: Cash & short term investments $ - Marketable securities 0 Accounts receivable Accounts receivable 31,279 Allowance for doubtful accts (3,460) ---------- Net accounts receivable 27,819 Inventory Gross inventory 63,691 Obsolescence reserve (739) Lifo reserve (15,432) ---------- Net inventory 47,520 Prepaid expenses 1,980 Other current assets 3,929 Deferred tax asset 0 ---------- Total current assets 81,248 Fixed assets: Gross 351,005 Accumulated depreciation (242,561) ---------- Net fixed assets 108,444 Other assets 6,514 ---------- TOTAL ASSETS $ 196,206 ========== LIABILITIES Current liabilities: 27,722 Trade accounts payable $ 471 Overdrafts 37,658 Other current liabilities 132,722 Debt - Current 198,573 ---------- Total current liabilities (2,367) Long-term debt: Senior notes 0 Line of credit 0 ---------- Total long -term debt 0 Long term reserves 15,748 Deferred revenue 1,080 Deferred tax provision 0 ---------- TOTAL LIABILITIES 215,401 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 (43,330) ---------- TOTAL SHAREHOLDERS' EQUITY (19,195) ---------- TOTAL LIABILITIES AND S.H. EQUITY $ 196,206 ==========
THE CARBIDE/GRAPHITE GROUP INC. DEBTOR CASE # 01-29744-MBM STATUS OF POSTPETITION TAXES REPORT PERIOD - JUNE 2002
Beginning Amount Ending Tax Withheld or Amount Date Check No. Tax Liability Accrued Paid Paid or EFT Liability --------------------------------------------------------------------------------------------------- FEDERAL Withholding 0.00 343,079.62 43,362.65 6/11/2002 ** 0.00 63,233.12 6/14/2002 ** 62,925.43 6/17/2002 ** 41,030.88 6/25/2002 ** 71,497.88 6/28/2002 ** 61,029.66 7/1/2002 ** 0.00 188,716.44 24,157.21 37418 ** 0.02 FICA - Employee 37,189.29 6/14/2002 ** 32,480.39 6/17/2002 ** 22,694.91 6/25/2002 ** 40,630.86 6/28/2002 ** 31,563.76 7/1/2002 ** 0.00 189,343.17 24,278.59 6/11/2002 ** 0.01 37,509.68 37421 ** FICA - Employer 32,480.45 6/17/2002 ** 22,721.27 6/25/2002 ** 40,789.40 6/28/2002 ** 31,563.77 7/1/2002 ** 1,244.04 319.51 0.00 1,563.55 0.00 0.00 0.00 Unemployment Income 1,244.04 721,458.74 721,139.20 1,563.58 Other: Total Federal Taxes 543.36 90,633.81 91,177.80 See Attached (0.63) STATE AND LOCAL 0.00 22,669.69 6,446.62 37427 306088 0.00 - ---------------- Withholding 6,686.75 EFT 78301/04309 (1) 9,536.32 37428 503501 Sales 0.00 0.00 0.00 0.00 14,904.11 3,798.88 0 See Attached 18,702.99 Excise 0.00 0.00 Unemployment (2) 0.00 0.00 Real Property Personal Property 15,447.47 117,102.38 113,847.49 18,702.36 Other: 16,691.51 838,561.12 834,986.69 20,265.94 Total State and Local Taxes Total Taxes ** ADP Statement of Deposits Attached (1) SIT Due (2) SUI Due KY 4026.86 NY 2647.31 NC 2.6 PA 12,026.23 ---------------- 18,703.00
SEADRIFT COKE L.P. DEBTOR CASE # 01-29744-MBM STATUS OF POSTPETITION TAXES REPORT PERIOD - JUNE 2002
Beginning Amount Ending Tax Withheld or Amount Check No. Tax Liability Accrued Paid or EFT Liability ---------------------------------------------------------------------------------------------- FEDERAL Withholding - 56,249.37 27,948.36 6/11/2002 ** (0.00) 28,301.01 6/25/2002 ** - FICA - Employee - 33,432.64 16,795.16 6/11/2002 ** 0.06 16,637.42 6/25/2002 ** - FICA - Employer 0.01 33,432.54 16,795.14 6/11/2002 ** (0.06) 16,637.47 6/25/2002 ** - Unemployment 2.74 - - ** 2.74 Income - Other: Total Federal Taxes 2.75 123,114.55 123,114.56 2.74 STATE AND LOCAL Withholding - - Sales - 2,938.67 2,938.67 6/12/2002 42057 - Excise - - Unemployment 170.85 0.01 - ** 170.86 Real Property - - Personal Property - - Other: - - Total State and Local Taxes 170.85 2,938.68 2,938.67 170.86 Total Taxes 173.60 126,053.23 126,053.23 173.60 ** ADP Statement of Deposits Attached
MOR-5 THE CARBIDE/GRAPHITE GROUP, INC. CONSOLIDATED ACCOUNTS PAYABLE AGING JUNE 30, 2002
TOTAL 0 - 30 DAYS 31 - 60 DAYS 61 - 90 DAYS 91 - 120 DAYS PRE-PETITION - -------------------------------------------------------------------------------------------------------------------------------- $ 24,233,071 $ 446,160 $ 1,604,483 $ 1,422,037 $ (1,233) $20,761,625 - --------------------------------------------------------------------------------------------------------------------------------
A summary of unpaid post petition debts has been completed and is available upon request THE CARBIDE/GRAPHITE GROUP, INC. CONSOLIDATED ACCOUNTS RECEIVABLE AGING JUNE 30, 2002
0 - 30 DAYS 31 - 60 DAYS 61 - 90 DAYS 91 - 120 DAYS OVER 120 DAYS TOTAL OUTSTANDING OUTSTANDING OUTSTANDING OUTSTANDING OUTSTANDING - -------------------------------------------------------------------------------------------------------------------------------- $ 23,028,246 $13,880,893 $ 4,473,748 $ 813,881 $ 711,279 $ 3,148,446 - --------------------------------------------------------------------------------------------------------------------------------
An accounts receivable reconciliation has been completed and is available upon request. THE CARBIDE/GRAPHITE GROUP, INC. MOR-6 DEBTOR QESTIONNAIRE JUNE 30, 2002 - ------------------------------------------------------------------------------- Yes No - ------------------------------------------------------------------------------- 1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide and explanation below. X - ------------------------------------------------------------------------------- 2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide and explanation below. X - ------------------------------------------------------------------------------- 3. Have all postpetition tax returns been timely filed? If no, provide and explanation below. X - ------------------------------------------------------------------------------- 4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. X - ------------------------------------------------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----