EX-99.2 4 j9616001exv99w2.txt MONTHLY OPERATING REPORT Exhibit 99.2 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: July 1 to July 31, 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 30-Aug-02 ------------------------------------------- ---------------- Signature of Debtor Date Willian 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 JULY-02 ---------------------------------------------------- ----------- LEGAL ENTITY The Carbide/Graphite Group, Inc. $ 7,248,985 Seadrift Coke, L.P. $ 3,949,484 Carbon/Graphite International, Inc. (FSC) < $15,000 CG Specialty Products Management Corporation < $15,000 Carbide/Graphite Management Corporation < $15,000 CARBIDE/GRAPHITE GROUP, INC. MOR-2 CONSOLIDATED STATEMENT OF OPERATIONS FOR THE MONTH ENDED JULY 31, 2002 (#'S IN '000S) Sales $ 10,344 Cost of goods sold 10,931 ---------- Gross profit (587) SG&A 707 ---------- Operating income before items below (1,294) Other compensation - Other (income) expense, net 176 ---------- Operating income/(loss) (1,470) Non-operating expenses (income): Special financing costs - Interest expense 937 Other non-operating (income)/expense - ---------- Income/(loss) before income taxes (2,407) Provision for income taxes (58) ---------- Net income (loss) from continuing operations (2,349) Extraordinary loss on early extinguishment of debt net of tax benefit - ---------- Net income (loss) $ (2,349) ========== Est. earnings per share data: Income excluding other items $ (0.27) Income before discontinued operations $ (0.28) Extraordinary loss $ - ---------- Net income per share $ (0.28) Weighted average shares 8,331,342 CARBIDE/GRAPHITE GROUP, INC. MOR-3 CONSOLIDATED BALANCE SHEET AS AT JULY 31, 2002 (#'S IN '000S) ASSETS Current assets: Cash & short term investments $ 1,048 Marketable securities 0 Accounts receivable Accounts receivable 30,127 Allowance for doubtful accts (3,480) ---------- Net accounts receivable 26,647 Inventory Gross inventory 61,858 Obsolescence reserve (671) Lifo reserve (14,919) ---------- Net inventory 46,268 Prepaid expenses 3,122 Other current assets 3,505 Deferred tax asset 0 ---------- Total current assets 80,590 Fixed assets: Gross 351,052 Accumulated depreciation (243,646) ---------- Net fixed assets 107,406 Other assets 6,277 ---------- TOTAL ASSETS $ 194,273 ========== LIABILITIES Current liabilities: Trade accounts payable $ 24,959 Overdrafts 0 Other current liabilities 38,653 Debt - Current 135,567 ---------- Total current liabilities 199,179 Long-term debt: Senior notes 0 Line of credit 0 ---------- Total long -term debt 0 Long term reserves 15,569 Deferred revenue 1,069 Deferred tax provision 0 ---------- TOTAL LIABILITIES 215,817 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 (45,679) ---------- TOTAL SHAREHOLDERS' EQUITY (21,544) ---------- TOTAL LIABILITIES AND S.H. EQUITY $ 194,273 ========== THE CARBIDE/GRAPHITE GROUP INC. DEBTOR CASE # 01-29744-MBM STATUS OF POSTPETITION TAXES REPORT PERIOD - JULY 2002
Beginning Amount Ending Tax Withheld or Amount Date Check No. Tax Liability Accrued Paid Paid or EFT Liability ---------------------------------------------------------------------------------------------------- FEDERAL Withholding 0.00 339,120.62 36,739.76 7/9/2002 ** 0.00 73,266.54 7/12/2002 ** 58,692.88 7/16/2002 ** 38,180.83 7/23/2002 ** 70,794.77 7/26/2002 ** 61,445.84 8/1/2002 ** FICA - Employee 0.00 186,762.95 21,256.73 37446 ** 0.00 41,644.96 7/12/2002 ** 30,347.27 7/16/2002 ** 21,786.17 7/23/2002 ** 41,529.87 7/26/2002 ** 30,197.95 8/1/2002 ** FICA - Employer 0.00 189,393.85 21,455.12 7/9/2002 ** 0.00 41,930.69 37449 ** 30,347.30 7/16/2002 ** 21,935.03 7/23/2002 ** 43,527.79 7/26/2002 ** 30,197.92 8/1/2002 ** Unemployment 1,563.55 343.46 1,563.55 6/30/2002 ** 343.46 Income 0.00 0.00 0.00 Other: Total Federal Taxes 1,563.55 715,620.88 716,840.97 343.46 State and Local Withholding (0.63) 102,792.45 102,520.77 See Attached 271.05 (1) SALES 0.00 19,732.72 6,333.23 37455 306719 0.00 5,442.22 EFT 78301/95895 7,957.27 37449 503761 Excise 0.00 0.00 0.00 0.00 Unemployment 18,702.99 4,383.08 18703 See Attached 4,383.07 (2) Real Property 0.00 0.00 Personal Property 0.00 0.00 Other: Total State and Local Taxes 18,702.36 126,908.25 122,253.49 4,654.12 Total Taxes 20,265.91 842,529.13 839,094.46 4,997.58 ** ADP Statement of Deposits Attached
(1) SIT Due MISS 271.05 (2) SUI Due KY 1235.98 NY 477.98 NC 0 PA 2,669.12 --------- 4,383.08 SEADRIFT COKE L.P. DEBTOR CASE # 01-29744-MBM STATUS OF POSTPETITION TAXES REPORT PERIOD - JULY 2002
Beginning Amount Ending Tax Withheld or Amount Check No. Tax Liability Accrued Paid or EFT Liability --------------------------------------------------------------------------------------------- FEDERAL Withholding - 55,452.52 28,551.80 7/9/2002 ** (0.00) 26,900.72 7/23/2002 ** - FICA - Employee - 32,689.63 16,676.14 7/9/2002 ** 0.00 16,013.49 7/23/2002 ** - FICA - Employer 0.01 32,689.55 16,676.14 7/9/2002 ** 0.01 16,013.41 7/23/2002 ** - Unemployment 2.74 - 2.74 6/30/2002 ** - Income - Other: Total Federal Taxes 2.75 120,831.70 120,834.44 0.01 STATE AND LOCAL Withholding - - Sales - 2,421.13 2,421.13 7/17/2002 42336 - Excise - - Unemployment 170.86 - 170.86 6/30/2002 ** - Real Property - - Personal Property - - Other: - - Total State and Local Taxes 170.86 2,421.13 2,591.99 - Total Taxes 173.61 123,252.83 123,426.43 0.01 ** ADP Statement of Deposits Attached
MOR-5 THE CARBIDE/GRAPHITE GROUP, INC. CONSOLIDATED ACCOUNTS PAYABLE AGING JULY 31, 2002
TOTAL 0 - 30 DAYS 31 - 60 DAYS 61 - 90 DAYS 91 - 120 DAYS PRE-PETITION -------------------------------------------------------------------------------------------------------------------------------- $ 26,085,625 $ 2,256,558 $ 119,370 $ 1,532,309 $ 1,415,296 $ 20,762,092 --------------------------------------------------------------------------------------------------------------------------------
A summary of unpaid post petition debts has been completed and is available upon request THE CARBIDE/GRAPHITE GROUP, INC. CONSOLIDATED ACCOUNTS RECEIVABLE AGING JULY 31, 2002
0 - 30 DAYS 31 - 60 DAYS 61 - 90 DAYS 91 - 120 DAYS OVER 120 DAYS TOTAL OUTSTANDING OUTSTANDING OUTSTANDING OUTSTANDING OUTSTANDING -------------------------------------------------------------------------------------------------------------------------------- $ 24,566,224 $ 11,629,601 $ 6,587,493 $ 3,193,734 $ 1,076,239 $ 2,079,157 --------------------------------------------------------------------------------------------------------------------------------
An accounts receivable reconciliation has been completed and is available upon request. THE CARBIDE/GRAPHITE GROUP, INC. MOR-6 DEBTOR QESTIONNAIRE JULY 31, 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 ----------------------------------------------------------------------------------------------------------