EX-99.6 8 octcons.txt CONSOLIDATED FINANCIALS FOR OCTOBER General DataComm Industries, Inc. Consolidated Balance Sheet (1) October 31, 2002 (Unaudited) In thousands ASSETS: Current Assets: Cash and cash equivalents $ 2,828 Accounts receivable 3,191 Notes receivable 68 Inventories 4,090 Deferred income taxes 307 Other current assets 772 -------- 11,256 Property, plant and equipment, net 354 Land and buildings held for sale 6,271 Other assets 4 Net assets of discontinued operations 60 --------- Total Assets $17,945 ========= LIABILITIES AND STOCKHOLDERS' EQUITY: Current liabilities: Liabilities not subject to compromise Accounts payable, trade 636 Accrued payroll and payroll-related costs 358 Accrued expenses and other current liab. 1,922 -------- 2,916 Liabilities subject to compromise Revolving credit loan $0 Notes payable 24,960 (2) Mortgages payable on real estate held for sale 170 7 3/4% Convertible debentures 3,000 Accounts payable, trade 21,530 Accrued payroll and payroll-related costs 2,573 Accrued expenses and other current liab. 15,582 ------- 67,815 Deferred income taxes 448 ------- Total Liabilities 71,179 Redeemable 5% Preferred Stock 3,043 Stockholders' equity: Preferred stock 788 Common stock 3,328 Paid-in-capital 191,313 Accumulated deficit (250,267)(2) Less: Treasury stock (1,439) -------- (56,277) -------- Total Liabilities and Stockholders' Equity $17,945 ======== _________________________ (1) Subject to adjustments that may be required to record the fiscal year-end (2001 and 2002) audit adjustments and the effects of the bankruptcy filing. (2) Excludes $2,568 interest/fees on secured debt that may not be payable. General DataComm Industries, Inc. Statement of Operations (1) One Fiscal Month Ended October 31, 2002 (Unaudited) ($ in 000's) Sales $1,797 Cost of Sales 858 ------- Gross Margin 939 Operating Expenses: Selling, general & administrative 593 Research & development 295 ------- 888 Operating income 51 Interest expense (contractual interest/fees $413) - Gain on legal settlement 2,450 Other, net (4) ------- Earnings (loss) before reorganization items, income taxes and discontinued operations 2,505 Reorganization items: Professional fees 150 Gain (loss) before income taxes and discontinued operations 2,355 Income tax provision 13 ------- Income (loss) before discontinued operations 2,342 Income(loss) from discontinued operations 57 ------- Net income(loss) $2,399 ======= _______________________ (1) Subject to adjustments that may be required to record the fiscal year-end (2001 and 2002) audit adjustments and the effects of the bankruptcy filing. General DataComm Industries, Inc Statement of Cash Flows (1) For the One Month Ended October 31, 2002 (Unaudited) ($ in 000's) Increase (Decrease) in Cash and Cash Equivalents Cash flows from operating activities: Cash received from customers $ 2,040 Non A/R cash 2,565 Cash paid to suppliers and employees (1,582) -------- Net cash provided by operating activities before reorganization items 3,023 Operating cash flows from reorganization items: Professional fees (239) -------- Net cash used by reorganization items (239) Net cash provided by operating activities 2,784 Cash flows from financing activities: Principal payments on debt (3,095) -------- Net cash used in financing activities (3,095) Net increase (decrease) in cash $ (311) ======== Cash at beginning of period 3,139 Cash at end of period $ 2,828 Reconciliation of net income to net cash provided by operating activities Net income $ 2,399 Depreciation 85 (Increase) decrease in notes receivable 66 (Increase) decrease in accounts receivable 37 (Increase) decrease in inventory 127 (Increase) decrease in other current assets 55 Increase (decrease) in postpetition payables and other current liabilities 15 -------- Net cash provided by operating activities $ 2,784 ======== ____________________ (1) Subject to adjustments that may be required to record the fiscal year-end (2001 and 2002) audit adjustments and the effects of the bankruptcy filing.