PCD (PCDIQ) 8-K Financial statements and exhibits

UNITED STATES BANKRUPTCY COURT

EASTERN DISTRICT OF MASSACHUSETTS

CASE NO:

03-12310

IN RE:

PCD INC

JUDGE:

Kenner

CHAPTER 11

DEBTOR(S)

MONTHLY OPERATING REPORT FOR MONTH ENDING

APRIL 30,

2003

COMES NOW,

Debtor-in-possession, and hereby submits its Monthly Operating Report for the period commencing

MARCH 30, 2003

and ending

APRIL 30, 2003

as shown by the report and exhibits consisting

of

9

pages and containing the following, as indicated:

XXXXX

Monthly Reporting Questionnaire (Attachment 1)

XXXXX

Comparative Balance Sheets (Forms OPR-1 & OPR-2)

XXXXX

Summary of Accounts Receivable (Form OPR-3)

XXXXX

Schedule of Post-petition Liabilities (From OPR-4)

XXXXX

Income Statement (Form OPR-5)

XXXXX

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:

DEBTOR(S)-IN-POSSESSION

By:

/s/ John J. Sheehan III

(Signature)

(Signature)

Name & Title:

JOHN J. SHEEHAN III

(Print or type)

Address:

2 TECHNOLOGY DRIVE

PEABODY, MA 01960

Telephone No.:

(978) 532-8800

ATTACHMENT 1 (Page 1)

CHAPTER 11

MONTHLY OPERATING REPORT

MONTHLY REPORT QUESTIONNAIRE

CASE NAME:

PCD INC

CASE NUMBER:

03-12310

MONTH OF:

APRIL 2003

1.

Payroll:

State the amount of all executive wages paid and taxes withheld and paid

Name and Title

Wages Paid

Taxes Withheld

of Executive

Gross

Net

Due

Paid

JOHN L. DWIGHT, JR.

20,204.00

8,089.00

10,533.06

10,533.06

JOHN J. SHEEHAN III

12,250.00

8,027.76

3,074.58

3,074.58

JOHN T. DOYLE

13,333.34

9,349.54

2,882.80

2,882.80

TOTAL EXECUTIVE PAYROLL

45,787.34

25,466.30

16,490.44

16,490.44

2.

Insurance:

Is worker's compensation and other insurance in effect?

YES

Are payments

current?

YES

If any policy has lapsed, been replaced or renewed, state so

in the schedule below. Attach a copy of the new policy's binder or cover page.

Date

Carrier

Coverage

Expiration

Premium

Coverage

Type

Name

Amount

Policy #

Date

Amounts

Pd. Thru

Homeowners

Rental Property

Liability

Vehicle

Workers

Compensation

Other

						ATTACHMENT 1 (Page 2)
							REV. 1/92
CHAPTER 11
MONTHLY OPERATING REPORT
MONTHLY REPORT QUESTIONNAIRE
CASE NAME:			PCD INC
CASE NUMBER:			03-12310
MONTH OF:			APRIL 2003
3.	Bank Accounts:		ACCOUNT TYPE
			Operating	Corp	Payroll		Other	Total
	Bank Name		SEE ATTACHED
	Account #
	BEGINNING BOOK BALANCE
	PLUS: Deposits
	LESS: Disbursements
	Other:
	Transfers In (Out)
	ENDING BANK BALANCE
4.	Post-petition payments: List any post-petition payments to professionals and payments onpre-petition debts in the schedule below (attach separate sheet if necessary).
	Payments To/On				Amount		Date	Check #
	Professionals (attorneys,
	accountants, etc.):
		NONE
		Pre-petition debts:

PCD INC
ATTACHMENT TO CHAPTER 11 MONTHLY OPERATING REPORT
FOR THE PERIOD 3/30/03 - 4/30/03
TOTAL COLLECTIONS	1,440,597.65
TOTAL DISBURSEMENTS	1,086,569.84

PCD INC	FORMS OPR-1 & OPR-2
BALANCE SHEET
AS AT APRIL 30, 2003
ASSETS:
Cash & Cash Equivalent		1,910,167
Accounts Receivable - Trade		2,446,393
Accounts Receivable - Other		-
Inventory		2,484,875
Prepaid Expenses		80,895
Total Current Assets		6,922,330
Plant, Property, & Equip. - Gross		12,061,479
Accm/Depr		8,721,950
Total Fixed Assets		3,339,529
Deposits		700
Goodwill & Intangibles		200,556
Other Assets		365,757
Total Other Assets		567,013
TOTAL ASSETS		10,828,872
LIABILITIES & EQUITY
Total Debt		41,584,610
Accounts Payable		1,206,572
Accrued Expenses		2,058,926
Total Current Liab.		44,850,108
Other Liab.		-
Total Liabilities		44,850,108
EQUITY
Common Stock/PIC		(49,465,420)
Beginning R/E		16,661,354
Current Earnings		(1,217,170)
Total Equity		(34,021,236)
TOTAL LIAB. & EQUITY		10,828,872

CASE NAME:		PCD Inc						FORM OPR - 3
					SUMMARY OF ACCOUNTS RECEIVABLE
CASE NUMBER:			03-12310
					MONTH ENDED:	APRIL 2003
						0 - 30	31 - 60	61 - 90		OVER
					TOTAL	DAYS	DAYS	DAYS		90 DAYS
DATE OF FILING:			21-Mar-03
Allowance for doubtful accounts
					-
MONTH:	29-Mar-03				3,038,361	2,378,273	519,961		(23,837)		163,964
Allowance for doubtful accounts					(123,217)
					2,915,144
MONTH:	30-Apr-03				2,570,860	2,388,373	89,575		7,528		85,384
Allowance for doubtful accounts				(124,467)
					2,446,393
MONTH:
Allowance for doubtful accounts
MONTH:
Allowance for doubtful accounts
MONTH:
Allowance for doubtful accounts
MONTH:
Allowance for doubtful accounts

CASE NAME:

PCD Inc

FORM OPR - 4

SCHEDULE OF POST PETITION LIABILITIES

CASE NUMBER:

03-12310

MONTH ENDED:

APRIL 2003

DATE

DATE

TOTAL

0-30

31-60

61-90

OVER

INCURRED

DUE

DUE

DAYS

DAYS

DAYS

90 DAYS

TAXES PAYABLE:

Federal Income Taxes

10,267

FICA - Employer's share

4,896

FICA - Employee's share

4,896

Unemployment Tax

293

State Income Tax - PREPETITION

83,174

State Sales & Use Tax

State Income Tax W/H

2,888

Personal Property Tax

TOTAL TAXES PAYABLE

PREPETITION SECURED DEBT

41,584,610

PREPETITION UNSECURED DEBT

1,275,901

ACCRUED INTEREST PAYABLE

1,447,589

TRADE ACCOUNTS PAYABLE & OTHER:

(list separately*)

Vendor Payables-Post Petition

m/e 4/30

Various

52,372

Accrued Wages - Post Petition

m/e 4/30

5/2/03

33,770

Other Accruals (GAAP)

349,452

TOTALS

44,850,108

*Attach separate page if necessary.

Note: Total post petition liabilities shown here must agree with the same item as shown on Form OPR-2 of this report.

PCD INC	FORM OPR-5
INCOME STATEMENT
FOR THE MONTH OF APRIL 2003
Total Sales	958,199
Cost Of Sales	759,915
Gross Margin	198,284
Selling/General/Administrative	388,729
Operating Profit	(190,445)
Other Exp/(Income)	(7,247)
Interest Exp/(Income)	25,935
Pretax Income/(Loss)	(209,133)
Taxes	-
Net Income/(Loss)	(209,133)

PCD INC			FORM OPR-6
CASH FLOWS
MONTH OF APRIL 2003
SOURCES:
Net Income from Operations		(209,133)
Cash Item - Miscellaneous		-
Depreciation and Amortization		83,004
	TOTAL	(126,129)
APPLICATIONS:
Accounts Receivable		(468,751)
Inventory		58,834
Capital Equipment		19,191
Accounts Payable		50,165
Other Working Capital		(603,070)
	TOTAL	(943,631)
NET CASH FLOW		817,502
BEGINNING CASH		1,092,665
ENDING CASH		1,910,167
OTHER WORKING CAPITAL
Prepaid Assets		(125,615)
Intercompany		(421,516)
Other Assets		(208)
Accrued Expenses/Payroll		(55,731)
	TOTAL	(603,070)