PRETIUM PACKAGING L L C

CIK:0001064090|SEC Filings

Condensed Consolidated Statements Of Operations (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Condensed Consolidated Statement of Operations [Abstract]
Net sales	$ 60,273	$ 62,661	$ 117,398	$ 115,381
Cost of sales	52,451	54,259	102,979	100,277
Gross profit	7,822	8,402	14,419	15,104
Operating expenses:
Selling, general and administrative expenses	4,652	4,783	9,470	9,368
Restructuring costs	300	0	3,408	0
Transaction-related fees and expenses	854	0	854	895
Loss on foreign currency exchange	342	104	442	157
Depreciation	88	129	175	258
Amortization of intangibles	320	325	642	650
Total operating expenses	6,556	5,341	14,991	11,328
Income (loss) from operations	1,266	3,061	(572)	3,776
Other expenses:
Interest	5,051	4,900	9,982	9,809
Loss before income tax provision	(3,785)	(1,839)	(10,554)	(6,033)
Income tax provision	543	525	1,017	1,008
Net loss	$ (4,328)	$ (2,364)	$ (11,571)	$ (7,041)

Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash Flows From Operating Activities
Net loss	$ (11,571)	$ (7,041)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	8,266	8,019
Amortization of intangibles	642	650
Amortization of deferred financing fees	983	972
Deferred taxes	(585)	(382)
Changes in assets and liabilities:
Accounts receivable	136	(3,616)
Inventories	(1,991)	(2,417)
Prepaid expenses and other assets	1,341	462
Accounts payable and accrued expenses	72	(793)
Accrued interest and bank fees	9	2
Other	(61)	(100)
Net cash used in operating activities	(2,759)	(4,244)
Cash Flows From Investing Activities
Purchase of property, plant and equipment	(9,085)	(5,396)
Net cash used in investing activities	(9,085)	(5,396)
Cash Flows From Financing Activities
Proceeds from sale-leaseback transaction	2,925	0
Repayments of revolving line of credit	(26,107)	(30,894)
Proceeds from revolving line of credit	34,398	40,759
Repayments of other debt obligations	(153)	(89)
Net cash provided by financing activities	11,063	9,776
Net increase in cash	(781)	136
Effect of foreign currency translation adjustment	232	(14)
Cash - beginning of period	1,179	913
Cash - end of period	630	1,035
Interest paid	8,879	8,816
Income taxes paid	$ 811	$ 1,534

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2013
Current assets:
Cash	$ 630	$ 1,179
Accounts receivable, net of allowances of $796 and $611	27,155	27,537
Inventories	27,499	25,759
Prepaid expenses and other assets	3,500	4,862
Deferred tax assets	523	445
Total current assets	59,307	59,782
Property, plant and equipment, net	62,900	61,963
Other assets:
Goodwill	40,192	40,408
Other intangibles, net	32,334	33,403
Deferred financing fees, net	3,806	4,789
Other non current assets	349	371
Total other assets	76,681	78,971
Total assets	198,888	200,716
Current liabilities:
Current maturities of long-term debt	686	25
Accounts payable	23,044	25,010
Accrued expenses	9,190	7,468
Accrued interest and bank fees	8,683	8,674
Total current liabilities	41,603	41,177
Long-term liabilities:
Long-term debt, less current maturities	165,892	155,490
Deferred tax liabilities	8,607	9,166
Other long-term liabilities	792	594
Total long-term liabilities	175,291	165,250
Members' deficit:
Members' deficit	(17,683)	(6,112)
Accumulated other comprehensive income	(323)	401
Total members' deficit	(18,006)	(5,711)
Total liabilities and members' deficit	$ 198,888	$ 200,716