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

MARCH 29,

2003

COMES NOW,

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

FEB 23, 2003

and ending

MARCH 29, 2003

as shown by the report and exhibits consisting

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:

15-Apr-03

DEBTOR(S)-IN-POSSESSION

By:

/s/ John J. Sheehan III

(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:

MARCH 2003

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.

20,250.00

8,128.27

10,576.57

JOHN J. SHEEHAN III

12,250.00

8,027.78

3,074.56

JOHN T. DOYLE

13,333.34

9,349.54

2,882.80

TOTAL EXECUTIVE PAYROLL

45,833.34

25,505.59

16,533.93

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:

MARCH 2003

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

Post-petition payments: List any post-petition payments to professionals and payments on pre-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 3/22/03 - 3/29/03


TOTAL COLLECTIONS				364,187.50

TOTAL DISBURSEMENTS				200,063.80


PCD INC	FORMS OPR-1 & OPR-2
BALANCE SHEET
AS AT MARCH 29, 2003


ASSETS:
Cash & Cash Equivlent		1,092,665
Accounts Receivable - Trade		2,915,144
Accounts Receivable - Other		-
Inventory		2,426,041
Prepaid Expenses		206,510
Total Current Assets		6,640,360

Plant, Property, & Equip. - Gross		12,042,288
Accm/Depr		8,638,946
Total Fixed Assets		3,403,342

Deposits		700
Goodwill & Intangibles		200,556
Other Assets		365,967
Total Other Assets		567,223

TOTAL ASSETS		10,610,925

LIABILITIES & EQUITY
Total Debt		41,584,610
Accounts Payable		1,256,737
Accrued Expenses		2,003,196
Total Current Liab.		44,844,543

Other Liab.		-
Total Liabilities		44,844,543

EQUITY
Common Stock/PIC		(49,886,934)
Beginning R/E		16,661,354
Current Earnings		(1,008,038)
Total Equity		(34,233,618)

TOTAL LIAB. & EQUITY		10,610,925

CASE NAME:

PCD Inc

FORM OPR - 3

SUMMARY OF ACCOUNTS RECEIVABLE

CASE NUMBER:

03-12310

MONTH ENDED:

Mar-03

0 - 30

31 - 60

61 - 90

OVER

TOTAL

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:

Allowance for doubtful accounts

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:

MARCH 2003

DATE

TOTAL

0-30

31-60

61-90

OVER

INCURRED

DUE

DAYS

90 DAYS

TAXES PAYABLE:

Federal Income Taxes

20,572

FICA - Employer's share

10,700

FICA - Employee's share

10,700

Unemployment Tax

1,137

State Income Tax - PREPETITION

83,174

State Sales & Use Tax

State Income Tax W/H

6,359

Personal Property Tax

TOTAL TAXES PAYABLE

PREPETITION SECURED DEBT

41,584,610

PREPETITION UNSECURED DEBT

1,349,058

ACCRUED INTEREST PAYABLE

1,447,589

TRADE ACCOUNTS PAYABLE & OTHER:

(list separately*)

Vendor Payables-Post Petition

w/e 3/29

Various

135,986

Accrued Wages - Post Petition

w/e 3/29

3/31/03

128,415

Other Accruals (GAAP)

66,243

TOTALS

44,844,543

*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 MARCH 2003


Total Sales		2,000,229
Cost Of Sales		1,221,676

Gross Margin		778,553

Selling/General/Administrative		718,668

Operating Profit		59,885

Other Exp/(Income)		(10,922)
Interest Exp/(Income)		274,668

Pretax Income/(Loss)		(203,861)
Taxes		-

Net Income/(Loss)		(203,861)


PCD INC			FORM OPR-6
CASH FLOWS
MONTH OF MARCH 2003



SOURCES:
Net Income from Operations		(203,861)
Cash Item - Miscellaneous		86,698
Depreciation and Amortization		146,295

	TOTAL	29,132


APPLICATIONS:
Accounts Receivable		783,621
Inventory		(147,253)
Capital Equipment		15,398
Reduction in Debt		(700,000)
Accounts Payable		(428,070)
Other Working Capital		543,663

	TOTAL	67,359

NET CASH FLOW		(38,227)

BEGINNING CASH		1,130,892

ENDING CASH		1,092,665


OTHER WORKING CAPITAL
Prepaid Assets		4,105
Intercompany		522,186
Accrued Expenses/Payroll		17,372

	TOTAL	543,663

PCD INC 8-K/A