================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 24, 2003
PSC INC.
------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
NEW YORK 0-9919 16-0969362
-------- ------ ----------
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation ) File Number) Identification No.)
111 S.W. FIFTH AVENUE, SUITE 4100,PORTLAND, OREGON 97204
-------------------------------------------------- -----
(Address of principal executive offices) (Zip Code)
(503) 553-3920
----------------------------------------------------
(Registrant's telephone number, including area code)
Not applicable
--------------------------------------------------------------
(Former name or former address; if changed since last report.)
================================================================================
Item 5. Other Events
As previously reported, on November 22, 2002, PSC Inc. (the "Company")
filed a voluntary bankruptcy petition for relief under Chapter 11 of the United
States Bankruptcy Code in the United States Bankruptcy Court for the Southern
District of New York. Since the November 22, 2002 petition date, the Company has
operated as a debtor in possession and is in compliance with all bankruptcy
reporting requirements.
As a result of the Chapter 11 proceeding, each month the Company is
required to file with the Bankruptcy court a schedule of monthly income and
expenses, along with selected balance sheet data (the "Monthly Operating
Statement"). Registrant has filed a Monthly Operating Statement with the
Bankruptcy Court covering the period of January 21, 2003 to February 21, 2003.
This Monthly Operating Statement is filed as Exhibit 99.1 to this Current
Report.
The financial data included in the Monthly Operating Statement is not
audited. The Monthly Operating Statement is in a format prescribed by applicable
bankruptcy laws. There can be no assurance that, from the perspective of an
investor or potential investor in the Company's securities, the Monthly
Operating Statement is complete. The Monthly Operating Statement also contains
information for periods different from those required in the Company's reports
pursuant to the Securities Exchange Act of 1934, as amended ("the Exchange
Act"). This information might not be indicative of the Company's financial
condition or operating results for the period that would be reflected in the
Company's financial statements or in its reports pursuant to the Exchange Act.
Results set forth in any Monthly Operating Statement should not be viewed as
indicative of future results.
Item 7. Financial Statements and Exhibits.
(c) EXHIBITS.
--------
EXHIBIT NO. DESCRIPTION
99.1 PSC Inc. Monthly Operating statement for the period from
January 21, 2003 to February 21, 2003.
FORWARD LOOKING STATEMENTS
Certain statements in this Form 8-K are forward-looking
statements that involve risk and uncertainties, which may cause actual results
to differ materially from the statements made including market potential,
regulatory clearances, business growth and other risks listed from time to time
in the Company's Securities and Exchange Commission filings. These
forward-looking statements represent the Company's judgment, as of the date of
this release, and the Company disclaims any intent or obligation to update these
forward-looking statements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PSC INC.
By: /s/ EDWARD J. BOREY
-----------------------------------------------
Name: Edward J. Borey
Title: President, Chief Executive Officer and Director
Dated: March 17, 2003
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 PSC Inc. Monthly Operating statement for the period from
January 24, 2003 to February 21, 2003.