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EXHIBIT 99.1
AMCAST INDUSTRIAL CORPORATION
Reorganized Balance Sheet
($Millions)
PROJECTED PROJECTED
PRE-EMERGENCE REORGANIZATION POST-EMERGENCE
6/30/2005 ADJUSTMENTS 6/30/2005
-------------- -------------- ---------------
ASSETS
Cash & Equivalents $ 0.562 $ (0.562)(1) $ 0.000
Accounts Receivable, Net 20.767 - 20.767
Inventory, Net 9.095 - 9.095
Other Current Assets 4.974 - 4.974
-------------- -------------- ---------------
TOTAL CURRENT ASSETS 35.399 (0.562) 34.837
-------------- -------------- ---------------
Property, Plant, & Equipment, Net 55.266 (6.648)(2) 48.618
Other Long-Term Assets 5.019 - 5.019
-------------- -------------- ---------------
TOTAL LONG-TERM ASSETS 60.285 (6.648) 53.637
-------------- -------------- ---------------
TOTAL ASSETS $ 95.684 $ (7.210) $88.474
============== ============== ===============
LIABILITIES AND EQUITY
Accounts Payable $ 9.810 $ 0.000 $ 9.810
Accrued Liabilities 7.051 1.175 (3) 8.226
Debtor-in-Possession (DIP)
Facility 14.000 (14.000)(4) -
-------------- -------------- ---------------
TOTAL CURRENT LIABILITIES 30.861 (12.825) 18.036
-------------- -------------- ---------------
Long-Term Debt - 0.438 0.438
Other Non-Current Liabilities - - -
Liabilities Subject to Compromise
Pre-Petition Accounts Payable 5.130 (5.130)(5) -
Pre-Petition Debt 108.352 (108.352)(5) -
Other Pre-Petition Liabilities 34.868 (34.868)(5) -
-------------- -------------- ---------------
Total Liabilities Subject to
Compromise 148.350 (148.350) -
Exit Debt Facilities
Term Note A - 42.000 (6) 42.000
Term Note B - 27.000 (6) 27.000
-------------- -------------- ---------------
Total Exit Debt Facilities - 69.000 69.000
-------------- -------------- ---------------
TOTAL LONG-TERM LIABILITIES 148.350 (78.912) 69.438
-------------- -------------- ---------------
TOTAL LIABILITIES 179.211 (91.737) 87.474
-------------- -------------- ---------------
Pre-Petition Shareholders' Equity (83.527) 83.527 (7) -
Reorganized Shareholders' Equity - 1.000 (6) 1.000
-------------- -------------- ---------------
TOTAL EQUITY (83.527) 84.527 1.000
-------------- -------------- ---------------
TOTAL LIABILITIES AND EQUITY $ 95.684 $ (7.210) $88.474
============== ============== ===============
NOTES TO REORGANIZED BALANCE SHEET
(1) Adjustment to record settlement of claims of general unsecured creditors.
(2) Adjustment to reconcile book value of assets to reorganization value.
(3) Adjustment to record financing fees payable to exit facility lenders and
incentive payments payable to professionals upon emergence.
(4) Adjustment to record retirement of DIP facility.
(5) Adjustment to record discharge of pre-petition obligations.
(6) Adjustment to record funding of exit financing.
(7) Adjustment to record cancellation of pre-petition equity.
AMCAST INDUSTRIAL CORPORATION
Projected Balance Sheets
($Millions)
PROJECTED
-----------------------------------------------------------
AS OF FISCAL YEAR END AT AUGUST 31,
-----------------------------------------------------------
2005 2006 2007 2008
------ ------ ------ ------
ASSETS
Cash & Equivalents $ 2.000 $ 2.000 $ 2.000 $ 2.000
Accounts Receivable, Net 19.069 20.761 24.477 24.653
Inventory, Net 10.096 11.850 15.289 15.788
Other Current Assets 4.446 4.450 4.450 4.450
-------- -------- -------- --------
TOTAL CURRENT ASSETS 35.611 39.061 46.216 46.892
-------- -------- -------- --------
Property, Plant, & Equipment, Net 48.301 51.096 57.438 57.616
Intangible Assets - - - -
Other Long-Term Assets 5.014 4.981 4.949 4.917
-------- -------- -------- --------
TOTAL LONG-TERM ASSETS 53.315 56.077 62.387 62.533
-------- -------- -------- --------
TOTAL ASSETS $88.926 $95.138 $108.603 $109.425
======== ======== ======== ========
LIABILITIES AND EQUITY
Accounts Payable $ 9.687 $14.830 $ 21.595 $ 21.925
Accrued Liabilities 6.733 6.709 6.685 6.661
Current Debt Maturities - - - -
-------- -------- -------- --------
TOTAL CURRENT LIABILITIES 16.420 21.539 28.280 28.586
-------- -------- -------- --------
Long-Term Debt 72.850 76.604 82.553 81.290
Other Non-Current Liabilities (0.061) (0.165) (0.136) (0.081)
-------- -------- -------- --------
TOTAL LONG-TERM LIABILITIES 72.790 76.440 82.417 81.210
-------- -------- -------- --------
TOTAL LIABILITIES 89.210 97.978 110.697 109.795
-------- -------- -------- --------
Shareholders' Equity (0.284) (2.840) (2.094) (0.370)
-------- -------- -------- --------
TOTAL EQUITY (0.284) (2.840) (2.094) (0.370)
-------- -------- -------- --------
TOTAL LIABILITIES AND EQUITY $88.926 $95.138 $108.603 $109.425
======== ======== ======== ========
AMCAST INDUSTRIAL CORPORATION
Pre-Emergence, Reorganized, and Projected Statements of Operations
($Millions)
ACTUAL PROJECTED
---------------- ------------------------------------------------------------------------------------------
2005
-------------------------------------------------------
TEN MONTHS TWO MONTHS FOR THE FISCAL YEAR ENDING AUGUST 31,
PRE-EMERGENCE DEBT DISCHARGE POST-EMERGENCE ---------------------------------------------------
ENDING 6/30/2005 & REORGANIZATION ENDING 8/31/2005 2005 2006 2007 2008
---------------- ---------------- ---------------- -------- -------- -------- --------
Sales $145.521 $ 0.000 $27.526 $173.047 $196.317 $226.881 $220.691
Cost of Sales 137.789 - 24.893 162.682 181.721 205.959 197.674
---------------- ---------------- ---------------- --------- ---------- --------- ---------
Gross Profit 7.733 - 2.633 10.366 14.596 20.922 23.017
Operating
Expenses 13.633 - 1.976 15.609 10.793 11.600 11.875
---------------- ---------------- ---------------- --------- ---------- --------- ---------
Operating Income (5.901) - 0.657 (5.243) 3.803 9.322 11.142
Other
(Income)/Expense 0.379 - (0.020) 0.359 (0.058) (0.073) (0.085)
Interest Expense 8.975 - 1.402 10.378 7.768 8.228 8.534
Reorganization
Expense 6.004 (83.527) 0.506 (77.016) 0.089 - -
---------------- ---------------- ---------------- --------- ---------- --------- ---------
Income before
Taxes (21.260) 83.527 (1.231) 61.036 (3.996) 1.166 2.693
Provision for
Income Taxes 0.366 - 0.053 0.419 (1.438) 0.420 0.970
---------------- ---------------- ---------------- --------- ---------- --------- ---------
Net Income $(21.626) $ 83.527 $(1.284) $ 60.617 $ (2.557) $ 0.746 $ 1.724
================ ================ ================ ========= ========== ========= =========
EBITDA (1) $ 1.529 $ 0.000 $ 2.222 $ 3.751 $ 13.986 $ 20.072 $ 21.960
================ ================ ================ ========= ========== ========= =========
(1) Excludes Reorganization Expenses and Other (Income)/Expense.
AMCAST INDUSTRIAL CORPORATION
Pre-Emergence, Reorganized, and Projected Statements of Cash Flow
($Millions)
ACTUAL PROJECTED
---------------- ------------------------------------------------------------------------------------------
2005
-------------------------------------------------------
TEN MONTHS TWO MONTHS FOR THE FISCAL YEAR ENDING AUGUST 31,
PRE-EMERGENCE DEBT DISCHARGE POST-EMERGENCE ---------------------------------------------------
ENDING 6/30/2005 & REORGANIZATION ENDING 8/31/2005 2005 2006 2007 2008
---------------- ---------------- ---------------- -------- -------- -------- --------
Net Cash Flow
from Operating
Activities $(14.050) $ 44.703 $(0.170) $ 30.484 $ 9.190 $ 11.112 $ 12.227
Net Cash Flow
from Investing
Activities (6.678) 6.648 (1.243) (1.273) (12.945) (17.060) (10.965)
Net Cash Flow
from Financing
Activities 11.067 (51.914) 3.413 (37.435) 3.755 5.948 (1.262)
-------- -------- -------- -------- -------- -------- --------
Net Cash Flow (9.661) (0.562) 2.000 (8.224) - - -
Beginning Cash
& Equivalents 10.224 0.562 0.000 10.224 2.000 2.000 2.000
Ending Cash
& Equivalents $ 0.562 $ 0.000 $ 2.000 $ 2.000 $ 2.000 $ 2.000 $ 2.000