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
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Debtors Reporting Period: April 1 to April 30, 2002
MONTHLY OPERATING REPORT
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DOCUMENT EXPLANATION
REQUIRED DOCUMENTS FORM NO. ATTACHED ATTACHED
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Schedule of Cash Receipts and Disbursements MOR-1 X
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Bank Reconciliation (or copies of debtor's bank reconciliation) MOR-1 (CON'T) X
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Copies of bank statements X
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Cash disbursements journal X
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Statement of Operations MOR-2 X
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Balance Sheet MOR-3 X
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Status of Postpetition Taxes MOR-4 X
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Copies of IRS Form 6123 or payment receipt X
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Copies of tax returns filed during reporting period X
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Summary of Unpaid Postpetition Debts MOR-5 X
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Listing of aged accounts payable X
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Accounts Receivable Reconciliation and Aging MOR-5 X
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Debtor Questionnaire MOR-6 X
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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
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Signature of Debtor Date
William M. Thalman VP - Treasurer
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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
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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
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Gross profit (598)
SG&A 928
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Operating income before items below (1,526)
Other compensation -
Other (income) expense, net 162
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Operating income/(loss) (1,688)
Non-operating expenses (income):
Special financing costs -
Interest expense 879
Other non-operating (income)/expense -
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Income/(loss) before income taxes (2,567)
Provision for income taxes 15
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Net income (loss) from continuing operations (2,582)
Extraordinary loss on early extinguishment of debt
net of tax benefit -
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Net income (loss) $ (2,582)
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Est. earnings per share data:
Income excluding other items $ (0.30)
Income before discontinued operations $ (0.31)
Extraordinary loss $ -
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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
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Current assets:
Cash & short term investments $ 1,711
Marketable securities 0
Accounts receivable
Accounts receivable 30,186
Allowance for doubtful accts (3,420)
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Net accounts receivable 26,766
Inventory
Gross inventory 65,748
Obsolescence reserve (840)
Lifo reserve (16,133)
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Net inventory 48,775
Prepaid expenses 2,363
Other current assets 4,027
Deferred tax asset 0
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Total current assets 83,642
Fixed assets:
Gross 350,757
Accumulated depreciation (240,351)
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Net fixed assets 110,406
Other assets 6,512
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TOTAL ASSETS $ 200,560
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LIABILITIES
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Current liabilities:
Trade accounts payable $ 27,541
Overdrafts 0
Other current liabilities 36,783
Debt - Current 136,038
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Total current liabilities 200,362
Long-term debt:
Senior notes 0
Line of credit 0
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Total long -term debt 0
Long term reserves 15,721
Deferred revenue 1,103
Deferred tax provision 0
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TOTAL LIABILITIES 217,186
SHAREHOLDERS' EQUITY
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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)
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TOTAL SHAREHOLDERS' EQUITY (16,626)
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TOTAL LIABILITIES AND S.H. EQUITY $ 200,560
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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
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FEDERAL
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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
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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 -
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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
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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
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FEDERAL
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Withholding - 54,649.01 27,071.49 4/16/2002 ** -
27,577.52 4/30/2002 **
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FICA - Employee - 33,267.71 16,583.46 4/16/2002 ** -
16,684.25 4/30/2002 **
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FICA - Employer - 33,267.84 16,583.45 4/16/2002 ** 0.01
16,684.38 4/30/2002 **
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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
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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
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$ 24,643,576 $ 3,341,886 $ 527,156 $ 45,709 $ 6,689 $20,722,136
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A summary of unpaid post petition debts has been completed and is available upon
request
THE CARBIDE/GRAPHITE GROUP, INC.
CONSOLIDATED ACCOUNTS RECEIVABLE AGING
APRIL 30, 2002
0 - 30 DAYS 31 - 60 DAYS 61 - 90 DAYS 91 - 120 DAYS OVER 120 DAYS
TOTAL OUTSTANDING OUTSTANDING OUTSTANDING OUTSTANDING OUTSTANDING
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$ 24,567,666 $13,620,720 $ 4,273,223 $ 2,866,247 $ 1,075,211 $ 2,732,266
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An accounts receivable reconciliation has been completed and is available upon
request.