Exhibit 99.1 to Form 8-K

EX-99 3 form8k_121603exh991.htm EXHIBIT 99.1 Exhibit 99.1 to Form 8-K


ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
November 28, 2003

                                              ATCHISON       AMITE                                       MILWAUKEE       EMPIRE                       PENNSYLVANIA
                                             CASTING        FOUNDRY &       PROSPECT       QUAKER         IMPELLER        STEEL          LaGRANGE    STEEL FOUNDRY
ASSETS                                      CORPORATION   MACHINE, INC.  FOUNDRY, INC.   ALLOY, INC.   CASTINGS, INC. CASTINGS, INC.  FOUNDRY, INC.  & MACHINE CO.                   FELCONSOL.ONS
----------------------------------------   -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------  -

CASH                                             $9,045             $0             $0             $1             $0              $1             $0             $0

TRADE RECEIVABLES                                 8,035          1,695          2,020            924              0             229              0              0
OTHER RECEIVABLES                                   280              0              1              0              0              12              0              0
LESS ALLOWANCES                                    (150)            (2)           (25)          (193)             0             (18)             0              0
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------  -
NET ACCOUNT RECEIVABLES                           8,165          1,693          1,996            731              0             223              0              0

GROSS INVENTORY                                   8,952          1,981            677            234              0           1,635              0              0
LIFO RESERVE                                       (790)             0              0              0              0               0              0              0
VALUATION RESERVE                                  (145)           (51)           (42)             0              0               0              0              0
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------  -
NET INVENTORY                                     8,017          1,930            635            234              0           1,635              0              0

DEFERRED INCOME TAXES                            (7,932)             0              0              0              0               0              0              0

OTHER CURRENT ASSETS                              1,404            378            151            213              0              85              0              3
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------  -

TOTAL CURRENT ASSETS                             18,699          4,001          2,782          1,179              0           1,944              0              3

PROPERTY, PLANT, & EQUIPMENT                     54,778         19,075         15,186          7,446              0           3,412              0              0
ALLOWANCE FOR DEPRECIATION                      (34,856)       (10,999)       (11,163)        (3,715)             0          (2,797)             0              0
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------  -
NET PROPERTY                                     19,922          8,076          4,023          3,731              0             615              0              0

OTHER ASSETS - INTANGIBLES                            0              0              0              0              0               0              0              0
ACCUMULATED AMORTIZATION                              0              0              0              0              0               0              0              0
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------  -
NET INTANGIBLES                                       0              0              0              0              0               0              0              0

INVESTMENT IN SUBSIDIARIES                       51,705              0              0              0              0               0              0              0

DEFERRED CHARGES                                      0              0              0              0              0               0              0              0
ACCUMULATED AMORTIZATION                              0              0              0              0              0               0              0              0
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------  -
NET DEFERRED CHARGES                                  0              0              0              0              0               0              0              0

OTHER ASSETS                                      2,426              0              0              0            614             186              0              0

                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------  -

TOTAL ASSETS                                    $92,752        $12,077         $6,805         $4,910           $614          $2,745             $0             $3
                                           =============  =============  =============  =============  =============  ==============  =============  =============  =


ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
November 28, 2003

                                           SPRINGFIELD                    INVERNESS                                      NON -
                                              IRON         PRIMECAST       CASTINGS       ACC GLOBAL    CLAREMONT       DEBTOR
ASSETS                                     CORPORATION    INCORPORATED    GROUP, INC.    CORPORATION   FOUNDRY, INC.   SECURITIES    ELIMINATIONS   CONSOLIDATED
----------------------------------------   ------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------

CASH                                                $0             $0              $0             $0             $0             $0             $0         $9,047

TRADE RECEIVABLES                                    0              0               0             47              0          1,802              0         14,752
OTHER RECEIVABLES                                    0              0               0              0              0             33              0            326
LESS ALLOWANCES                                      0              0               0            (47)             0            (18)             0           (453)
                                           ------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
NET ACCOUNT RECEIVABLES                              0              0               0              0              0          1,817              0         14,625

GROSS INVENTORY                                      0              0               0              0              0          1,482              0         14,961
LIFO RESERVE                                         0              0               0              0              0              0              0           (790)
VALUATION RESERVE                                    0              0               0              0              0            (16)             0           (254)
                                           ------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
NET INVENTORY                                        0              0               0              0              0          1,466              0         13,917

DEFERRED INCOME TAXES                                0              0               0              0              0              0              0         (7,932)

OTHER CURRENT ASSETS                                 0              0               0              2              0            139              0          2,375
                                           ------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------

TOTAL CURRENT ASSETS                                 0              0               0              2              0          3,422              0         32,032

PROPERTY, PLANT, & EQUIPMENT                         0              0               0              0              0         11,185              0        111,082
ALLOWANCE FOR DEPRECIATION                           0              0               0              0              0         (3,669)             0        (67,199)
                                           ------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
NET PROPERTY                                         0              0               0              0              0          7,516              0         43,883

OTHER ASSETS - INTANGIBLES                           0              0               0              0              0          9,914              0          9,914
ACCUMULATED AMORTIZATION                             0              0               0              0              0         (8,022)             0         (8,022)
                                           ------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
NET INTANGIBLES                                      0              0               0              0              0          1,892              0          1,892

INVESTMENT IN SUBSIDIARIES                           0              0               0              0              0              0        (51,705)             0

DEFERRED CHARGES                                     0              0               0              0              0              0              0              0
ACCUMULATED AMORTIZATION                             0              0               0              0              0              0              0              0
                                           ------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
NET DEFERRED CHARGES                                 0              0               0              0              0              0              0              0

OTHER ASSETS                                        66              0               0              0              0              0              0          3,292

                                           ------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------

TOTAL ASSETS                                       $66             $0              $0             $2             $0        $12,830       ($51,705)       $81,099
                                           ============  =============  ==============  =============  =============  =============  =============  =============



ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
November 28, 2003


                                              ATCHISON       AMITE                                       MILWAUKEE       EMPIRE                       PENNSYLVANIA
                                             CASTING        FOUNDRY &       PROSPECT       QUAKER         IMPELLER        STEEL          LaGRANGE    STEEL FOUNDRY
LIABILITIES & NET WORTH                     CORPORATION   MACHINE, INC.  FOUNDRY, INC.   ALLOY, INC.   CASTINGS, INC. CASTINGS, INC.  FOUNDRY, INC.  & MACHINE CO.
----------------------------------------   -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------

ACCOUNT PAYABLE                                  $8,292         $1,570         $1,338         $1,541             $0            $170            $38             $0
ACCRUED EXPENSES                                 15,964            643          1,668           (910)           638           2,208          1,322            438
CURRENT PORTION - LONG TERM DEBT                 13,820              0              0              0              0               0              0              0
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------
TOTAL CURRENT LIABILITIES                        38,076          2,213          3,006            631            638           2,378          1,360            438

LONG TERM  LOAN                                  72,358              0              0              0              0               0              0              0
LONG TERM  LOAN - INTRACOMPANY                  (19,331)        12,541        (10,646)        17,474          8,276           7,781          2,739           (435)
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------
TOTAL LOANS                                      53,027         12,541        (10,646)        17,474          8,276           7,781          2,739           (435)

EXCESS ASSETS OVER COST                               0              0              0              0              0               0              0              0
ACCUMULATED AMORTIZATION                              0              0              0              0              0               0              0              0
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------
NET EXCESS ASSETS OVER COST                           0              0              0              0              0               0              0              0

DEFERRED TAXES                                    1,251              0              0              0              0               0              0              0

OTHER LONG TERM LIABILITIES                         841             40              0              0              0               0              0              0

LONG TERM PENSION                                 7,437              0              0              0              0           2,068              0              0

POST RETIREMENT OBLIGATION
   OTHER THAN PENSION                             5,806              0              0              0              0             463              0              0

MINORITY INTEREST IN SUBSIDIARY                     148              0              0              0              0               0              0              0


                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------
TOTAL LIABILITIES                               106,586         14,794         (7,640)        18,105          8,914          12,690          4,099              3

CAPITAL STOCK                                    63,575         12,000          6,678          1,894          3,269           1,400          3,000              0
RETAINED EARNINGS                               (77,409)       (14,717)         7,767        (15,089)       (11,569)        (11,345)        (7,099)             0
                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------
NET WORTH                                       (13,834)        (2,717)        14,445        (13,195)        (8,300)         (9,945)        (4,099)             0

                                           -------------  -------------  -------------  -------------  -------------  --------------  -------------  -------------
TOTAL LIABILITIES &
NET WORTH                                       $92,752        $12,077         $6,805         $4,910           $614          $2,745             $0             $3
                                           =============  =============  =============  =============  =============  ==============  =============  =============


ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
November 28, 2003

                                              SPRINGFIELD                     INVERNESS                                     NON -
                                                 IRON         PRIMECAST       CASTINGS       ACC GLOBAL   CLAREMONT        DEBTOR
LIABILITIES & NET WORTH                       CORPORATION    INCORPORATED    GROUP, INC.    CORPORATION   FOUNDRY, INC.  SUBSIDIARIES   ELIMINATIONS   CONSOLIDATED
----------------------------------------     -------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------

ACCOUNT PAYABLE                                        $0             $0              $0           $202             $0         $1,066             $0         14,217
ACCRUED EXPENSES                                        0              0               0             44              0            117              0         22,132
CURRENT PORTION - LONG TERM DEBT                        0              0               0              0              0                             0         13,820
                                             -------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
TOTAL CURRENT LIABILITIES                               0              0               0            246              0          1,183              0         50,169

LONG TERM  LOAN                                         0              0               0              0              0              0              0         72,358
LONG TERM  LOAN - INTRACOMPANY                         66              0               0           (138)             0         (2,201)       (16,126)             0
                                             -------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
TOTAL LOANS                                            66              0               0           (138)             0         (2,201)       (16,126)        72,358

EXCESS ASSETS OVER COST                                 0              0               0              0              0              0              0              0
ACCUMULATED AMORTIZATION                                0              0               0              0              0              0              0              0
                                             -------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
NET EXCESS ASSETS OVER COST                             0              0               0              0              0              0              0              0

DEFERRED TAXES                                          0              0               0              0              0          2,305              0          3,556

OTHER LONG TERM LIABILITIES                             0              0               0              0              0              0              0            881

LONG TERM PENSION                                       0              0               0              0              0              0              0          9,505

POST RETIREMENT OBLIGATION
   OTHER THAN PENSION                                   0              0               0              0              0              0              0          6,269

MINORITY INTEREST IN SUBSIDIARY                         0              0               0              0              0              0              0            148


                                             -------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
TOTAL LIABILITIES                                      66              0               0            108              0          1,287        (16,126)       142,886

CAPITAL STOCK                                           0              0               0            100              0          7,238        (35,579)        63,575
RETAINED EARNINGS                                       0              0               0           (206)             0          4,305              0       (125,362)
                                             -------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
NET WORTH                                               0              0               0           (106)             0         11,543        (35,579)       (61,787)

                                             -------------  -------------  --------------  -------------  -------------  -------------  -------------  -------------
TOTAL LIABILITIES &
NET WORTH                                             $66             $0              $0             $2             $0        $12,830       ($51,705)       $81,099
                                             =============  =============  ==============  =============  =============  =============  =============  =============


ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED NOVEMBER 28, 2003
(US $ IN 000s)
                                           ATCHISON          AMITE                                         MILWAUKEE         EMPIRE
                                            CASTING        FOUNDRY &        PROSPECT         QUAKER         IMPELLER         STEEL          LaGRANGE
                                          CORPORATION    MACHINE, INC.   FOUNDRY, INC.    ALLOY, INC.    CASTINGS, INC.  CASTINGS, INC.   FOUNDRY, INC.
                                         --------------  --------------- --------------- --------------- --------------- ---------------  --------------

SALES                                           $4,410             $877          $1,269             $91              $0          $1,695              $0

COST OF SALES :
    MATERIAL                                    (1,677)            (230)           (219)           (134)              0               0               0
    LABOR                                         (420)            (147)           (381)            (14)              0             (11)              0
    BURDEN                                      (2,092)            (670)           (546)           (147)              0          (1,438)              0
                                         --------------  --------------- --------------- --------------- --------------- ---------------  --------------
TOTAL STANDARD COST OF SALES                    (4,189)          (1,047)         (1,146)           (295)              0          (1,449)              0


                                         --------------  --------------- --------------- --------------- --------------- ---------------  --------------
STANDARD GROSS MARGIN                              221             (170)            123            (204)              0             246               0

MANUFACTURING VARIANCE                             (99)               0               0               0               0               0               0
                                         --------------  --------------- --------------- --------------- --------------- ---------------  --------------
TOTAL COST OF SALES                             (4,288)          (1,047)         (1,146)           (295)              0          (1,449)              0

GROSS PROFIT (LOSS)                                122             (170)            123            (204)              0             246               0

GENERAL & ADMINISTRATIVE                        (1,360)             (45)           (121)            (79)            (51)             (9)            (42)
SALES & MARKETING                                  (64)             (12)            (25)              1               0              (5)              0
                                         --------------  --------------- --------------- --------------- --------------- ---------------  --------------

NET OPERATING PROFIT (LOSS)                     (1,302)            (227)            (23)           (282)            (51)            232             (42)
OTHER INCOME (EXPENSE)                          (2,082)               0               0               0               0               0               0
                                         --------------  --------------- --------------- --------------- --------------- ---------------  --------------

EARNINGS BEFORE INTEREST & TAX                  (3,384)            (227)            (23)           (282)            (51)            232             (42)
INTEREST EXPENSE                                   149              (87)             46            (130)              0               0               0
MINORITY INTEREST                                    0                0               0               0               0               0               0
                                         --------------  --------------- --------------- --------------- --------------- ---------------  --------------

NET INCOME (LOSS) BEFORE TAX                    (3,235)            (314)             23            (412)            (51)            232             (42)
INCOME TAX                                        (155)             107              (9)            123               0             (66)              0
                                         --------------  --------------- --------------- --------------- --------------- ---------------  --------------

NET INCOME (LOSS)                              ($3,390)           ($207)            $14           ($289)           ($51)           $166            ($42)
                                         ==============  =============== =============== =============== =============== ===============  ==============

ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED NOVEMBER 28, 2003
(US $ IN 000s)


                                         PENNSYLVANIA     SPRINGFIELD                      INVERNESS                                         NON -
                                         STEEL FOUNDRY       IRON          PRIMECAST        CASTINGS       ACC GLOBAL      CLAREMONT        DEBTOR
                                         & MACHINE CO.    CORPORATION     INCORPORATED    GROUP, INC.     CORPORATION    FOUNDRY, INC.    SUBSIDIARIES
                                         --------------  --------------  --------------- --------------- --------------- -------------  ---------------

SALES                                               $0              $0               $0              $0              $0              $0            $779

COST OF SALES:
    MATERIAL                                         0               0                0               0               0               0            (297)
    LABOR                                            0               0                0               0               0               0            (145)
    BURDEN                                           0               0                0               0               0               0            (311)
                                         --------------  --------------  --------------- --------------- --------------- --------------- ---------------
TOTAL STANDARD COST OF SALES                         0               0                0               0               0               0            (753)


                                         --------------  --------------  --------------- --------------- --------------- --------------- ---------------
STANDARD GROSS MARGIN                                0               0                0               0               0               0              26

MANUFACTURING VARIANCE                               0               0                0               0               0               0               0
                                         --------------  --------------  --------------- --------------- --------------- --------------- ---------------
TOTAL COST OF SALES                                  0               0                0               0               0               0            (753)

GROSS PROFIT (LOSS)                                  0               0                0               0               0               0              26

GENERAL & ADMINISTRATIVE                           (11)              0                0               0             (10)              0             (40)
SALES & MARKETING                                    0               0                0               0               0               0             (14)
                                         --------------  --------------  --------------- --------------- --------------- --------------- ---------------

NET OPERATING PROFIT (LOSS)                        (11)              0                0               0             (10)              0             (28)
OTHER INCOME (EXPENSE)                               0               0                0               0               0               0              (5)
                                         --------------  --------------  --------------- --------------- --------------- --------------- ---------------

EARNINGS BEFORE INTEREST & TAX                     (11)              0                0               0             (10)              0             (33)
INTEREST EXPENSE                                     0               0                0               0               0               0               9
MINORITY INTEREST                                    0               0                0               0               0               0               0
                                         --------------  --------------  --------------- --------------- --------------- --------------- ---------------

NET INCOME (LOSS) BEFORE TAX                       (11)              0                0               0             (10)              0             (24)
INCOME TAX                                           0               0                0               0               0               0               8
                                         --------------  --------------  --------------- --------------- --------------- --------------- ---------------

NET INCOME (LOSS)                                 ($11)             $0               $0              $0            ($10)             $0            ($16)
                                         ==============  ==============  =============== =============== =============== =============== ===============



ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED NOVEMBER 28, 2003
(US $ IN 000s)


                                        ELIMINATIONS    CONSOLIDATED
                                        --------------  --------------

SALES                                            ($38)         $9,083

COST OF SALES:
    MATERIAL                                        0          (2,557)
    LABOR                                           0          (1,118)
    BURDEN                                         38          (5,166)
                                        --------------  --------------
TOTAL STANDARD COST OF SALES                       38          (8,841)


                                        --------------  --------------
STANDARD GROSS MARGIN                               0             242

MANUFACTURING VARIANCE                              0             (99)
                                        --------------  --------------
TOTAL COST OF SALES                                38          (8,940)

GROSS PROFIT (LOSS)                                 0             143

GENERAL & ADMINISTRATIVE                            0          (1,768)
SALES & MARKETING                                   0            (119)
                                        --------------  --------------

NET OPERATING PROFIT (LOSS)                         0          (1,744)
OTHER INCOME (EXPENSE)                              0          (2,087)
                                        --------------  --------------

EARNINGS BEFORE INTEREST & TAX                      0          (3,831)
INTEREST EXPENSE                                    0             (13)
MINORITY INTEREST                                   0               -
                                        --------------  --------------

NET INCOME (LOSS) BEFORE TAX                        0          (3,844)
INCOME TAX                                          0               8
                                        --------------  --------------

NET INCOME (LOSS)                                  $0         ($3,836)
                                        ==============  ==============