SCHEDULE 13G
CUSIP NO. 71376K102
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.__)*
PERFORMANCE TECHNOLOGIES, INC.
----------------------------------------------------------------
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
71376K102
--------------------
(CUSIP Number)
December 19, 2007
----------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/ / Rule 13d-1(b)
/ X / Rule 13d-1(c)
/ / Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of the section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13G
CUSIP NO. 71376K102
1) NAME OF REPORTING PERSON
Quaker Capital Management Corporation
-------------------------------------
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON 25-1495646
-----------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION Commonwealth of
Pennsylvania
---------------
NUMBER OF SHARES BENEFICIALLY OWNED BY
EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER 1,180,700
---------
6) SHARED VOTING POWER 0
---------
7) SOLE DISPOSITIVE POWER 1,180,700
---------
8) SHARED DISPOSITIVE POWER 0
---------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 1,180,700
---------
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ ]
11) PERCENT OF CLASS REPRESENTED BY
AMOUNT IN ROW (9) 10.01%
---------
12) TYPE OF REPORTING PERSON IA
---------
Page 2 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
1) NAME OF REPORTING PERSON
Quaker Capital Partners I, L.P.
-------------------------------------
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON 25-1778076
----------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------
NUMBER OF SHARES BENEFICIALLY OWNED BY
EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER 737,800
----------
6) SHARED VOTING POWER 0
----------
7) SOLE DISPOSITIVE POWER 737,800
----------
8) SHARED DISPOSITIVE POWER 0
----------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 737,800
----------
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ X ]
Excludes 442,900 shares of the Issuer's Common Stock owned of record by
Quaker Capital Partners II, L.P.
11) PERCENT OF CLASS REPRESENTED BY
AMOUNT IN ROW (9) 6.25%
----------
12) TYPE OF REPORTING PERSON PN
----------
Page 3 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
1) NAME OF REPORTING PERSON
Quaker Premier, L.P.
-------------------------------------
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON 25-1778068
-----------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------
NUMBER OF SHARES BENEFICIALLY OWNED BY
EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER 737,800
-----------
6) SHARED VOTING POWER 0
-----------
7) SOLE DISPOSITIVE POWER 737,800
-----------
8) SHARED DISPOSITIVE POWER 0
-----------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 737,800
-----------
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ X ]
Excludes 442,900 shares of the Issuer's Common Stock owned of record by
Quaker Capital Partners II, L.P.
11) PERCENT OF CLASS REPRESENTED BY
AMOUNT IN ROW (9) 6.25%
------------
12) TYPE OF REPORTING PERSON PN
------------
Page 4 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
1) NAME OF REPORTING PERSON
Quaker Capital Partners II, L.P.
-------------------------------------
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON 11-3667966
----------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
------------
NUMBER OF SHARES BENEFICIALLY OWNED BY
EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER 442,900
------------
6) SHARED VOTING POWER 0
------------
7) SOLE DISPOSITIVE POWER 442,900
------------
8) SHARED DISPOSITIVE POWER 0
------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 442,900
------------
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ X ]
Excludes 737,800 shares of the Issuer's Common Stock owned of record by
Quaker Capital Partners I, L.P.
11) PERCENT OF CLASS REPRESENTED BY
AMOUNT IN ROW (9) 3.75%
------------
12) TYPE OF REPORTING PERSON PN
------------
Page 5 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
1) NAME OF REPORTING PERSON
Quaker Premier II, L.P.
-------------------------------------
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON 30-0135937
----------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------
NUMBER OF SHARES BENEFICIALLY OWNED BY
EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER 442,900
----------
6) SHARED VOTING POWER 0
----------
7) SOLE DISPOSITIVE POWER 442,900
----------
8) SHARED DISPOSITIVE POWER 0
----------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 442,900
----------
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ X ]
Excludes 737,800 shares of the Issuer's Common Stock owned of record by
Quaker Capital Partners I, L.P.
11) PERCENT OF CLASS REPRESENTED BY
AMOUNT IN ROW (9) 3.75%
----------
12) TYPE OF REPORTING PERSON PN
----------
Page 6 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
1) NAME OF REPORTING PERSON
Mark G. Schoeppner
-------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION United States
of America
-------------
NUMBER OF SHARES BENEFICIALLY OWNED BY
EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER 0
-------------
6) SHARED VOTING POWER 0
-------------
7) SOLE DISPOSITIVE POWER 0
-------------
8) SHARED DISPOSITIVE POWER 0
-------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 0
-------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ X ]
Mark G. Schoeppner disclaims beneficial ownership of 1,180,700 shares of
the Issuer's Common Stock that may be deemed to be beneficially owned
by Quaker Capital Partners I, L.P. and Quaker Capital Partners II, L.P.
11) PERCENT OF CLASS REPRESENTED BY
AMOUNT IN ROW (9) 0%
-------------
14) TYPE OF REPORTING PERSON IN
-------------
Page 7 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
Item 1.
(a) Name of Issuer
PERFORMANCE TECHNOLOGIES, INC.
--------------------------------------------------------------
(b) Address of Issuer's Principal Executive Offices
1414 Avenue of the Americas, New York, NY 10019
--------------------------------------------------------------
Item 2.
(a) Names of Persons Filing
Quaker Capital Management Corporation
Quaker Capital Partners I, L.P.
Quaker Capital Partners II, L.P.
Quaker Premier, L.P.
Quaker Premier II, L.P.
Mark G. Schoeppner
--------------------------------------------------------------
(b) Address of Principal Business Office or, if none, Residence
401 Wood Street, Suite 1300, Pittsburgh, PA 15222
--------------------------------------------------------------
(c) Citizenship
Quaker Capital Management Corporation - Pennsylvania
Corporation
Quaker Capital Partners I, L.P. - Delaware partnership
Quaker Capital Partners II, L.P.- Delaware partnership
Quaker Premier, L.P. - Delaware partnership
Quaker Premier II, L.P. - Delaware partnership
Mark G. Schoeppner - United States citizen
--------------------------------------------------------------
(d) Title of Class of Securities
Common Stock
--------------------------------------------------------------
(e) CUSIP Number
71376K102
--------------------------------------------------------------
Page 8 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
Item 3. If this statement is filed pursuant to ss.ss. 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a) / / Broker of dealer registered under section 15 of the Act;
(b) / / Bank as defined in section 3(a)(6) of the Act;
(c) / / Insurance company as defined in section 3(a)(19) of the
Act;
(d) / / Investment company registered under section 8 of the
Investment Company Act of 1940;
(e) /X/ An investment adviser in accordance with ss.240.13d-1(b)
(l)(ii)(E);
(f) / / An employee benefit plan or endowment fund in accordance
with ss.240.13d-1(b)(1)(ii)(F);
(g) / / A parent holding company or control person in accordance
with ss.240.13d-1(b)(1)(ii)(G);
(h) / / A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) / / A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the
Investment Company Act of 1940;
(j) / / Group, in accordance with ss.240.13d-1((b)(l)(ii)(J)
Item 4. Ownership
---------
QUAKER CAPITAL MANAGEMENT CORPORATION:
(a) Amount Beneficially Owned: 1,180,700
The filing of this report shall not be construed as an
admission that Quaker Capital Management Corporation is, for
purposes of Section 13(d) or 13(g) of the Act or for any other
purposes, the beneficial owner of these securities. Quaker
Capital Management
Page 9 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
Corporation disclaims beneficial ownership
of all 1,180,700 shares covered by this Schedule 13G.
(b) Percent of Class: 10.01%
(c)
(i) Sole power to vote or direct the vote: 1,180,700
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 1,180,700
(iv) Shared power to dispose or direct the disposition of: 0
QUAKER CAPITAL PARTNERS I, L.P.:
a) Amount Beneficially Owned: 737,800
The filing of this report shall not be construed as an
admission that Quaker Capital Partners I, L.P. is, for
purposes of Section 13(d) or 13(g) of the Act or for any other
purposes, the beneficial owner of these securities. Quaker
Capital Partners I, L.P. disclaims beneficial ownership of
442,900 shares covered by this Schedule 13G.
(b) Percent of Class: 6.25%
(c)
(i) Sole power to vote or direct the vote: 737,800
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 737,800
(iv) Shared power to dispose or direct the disposition of: 0
QUAKER PREMIER, L.P.:
a) Amount Beneficially Owned: 737,800
The filing of this report shall not be construed as an
admission that Quaker Premier, L.P. is, for purposes
Page 10 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
of Section 13(d) or 13(g) of the Act or for any other
purposes, the beneficial owner of these securities. Quaker
Premier, L.P. disclaims beneficial ownership of 442,900 shares
covered by this Schedule 13G.
(b) Percent of Class: 6.25%
(c)
(i) Sole power to vote or direct the vote: 737,800
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 737,800
(iv) Shared power to dispose or direct the disposition of: 0
QUAKER CAPITAL PARTNERS II, L.P.:
a) Amount Beneficially Owned: 442,900
The filing of this report shall not be construed as an
admission that Quaker Capital Partners II, L.P. is, for
purposes of Section 13(d) or 13(g) of the Act or for any other
purposes, the beneficial owner of these securities. Quaker
Capital Partners II, L.P. disclaims beneficial ownership of
737,800 shares covered by this Schedule 13G.
(b) Percent of Class: 3.75%
(c)
(i) Sole power to vote or direct the vote: 442,900
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 442,900
(iv) Shared power to dispose or direct the disposition of: 0
QUAKER PREMIER II, L.P.:
a) Amount Beneficially Owned: 442,900
Page 11 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
The filing of this report shall not be construed as an
admission that Quaker Premier II, L.P. is, for purposes of
Section 13(d) or 13(g) of the Act or for any other purposes,
the beneficial owner of these securities. Quaker Premier II,
L.P. disclaims beneficial ownership of 737,800 shares covered
by this Schedule 13G.
(b) Percent of Class: 3.75%
(c)
(i) Sole power to vote or direct the vote: 442,900
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 442,900
(iv) Shared power to dispose or direct the disposition of: 0
MARK G. SCHOEPPNER:
a) Amount Beneficially Owned: 0
The filing of this report shall not be construed as an
admission that Mark G. Schoeppner is, for purposes of Section
13(d) or 13(g) of the Act or for any other purposes, the
beneficial owner of these securities. Mark G. Schoeppner
disclaims beneficial ownership of all 1,180,700 shares covered
by this Schedule 13G.
(b) Percent of Class: 0%
(c)
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 0
Item 5. Ownership of Five Percent or Less of a Class
Page 12 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
If this statement is being filed to report the fact that as of
the date hereof, the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following:
----------
Item 6. Ownership of More than Five Percent on Behalf of
Another Person
All 1,180,700 of the shares with respect to which this report
is filed are owned by a variety of investment advisory clients of Quaker Capital
Management Corporation, which clients are entitled to receive dividends on and
the proceeds from the sale of such shares. No client is known to own more than
5% of the class.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired not acquired and are not
held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Page 13 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
January 29, 2008 QUAKER CAPITAL MANAGEMENT CORPORATION
/s/ Mark G. Schoeppner
--------------------------------------------
Mark G. Schoeppner, President
QUAKER CAPITAL PARTNERS I, L.P.
By: Quaker Premier, L.P., its general
partner
By: Quaker Capital Management
Corporation, its general partner
By: /s/ Mark G. Schoeppner
------------------------------------
Mark G. Schoeppner
President
QUAKER PREMIER, L.P.
By: Quaker Capital Management Corporation,
its general partner
By: /s/ Mark G. Schoeppner
--------------------------
Mark G. Schoeppner
President
QUAKER CAPITAL PARTNERS II, L.P.
By: Quaker Premier II, L.P., its general
partner
By: Quaker Capital Management
Corporation, its general partner
By: /s/ Mark G. Schoeppner
------------------------------------
Mark G. Schoeppner
President
Page 14 of 15 Pages
SCHEDULE 13G
CUSIP NO. 71376K102
QUAKER PREMIER II, L.P.
By: Quaker Capital Management Corporation,
its general partner
By: /s/ Mark G. Schoeppner
------------------------------------
Mark G. Schoeppner
President
/s/ Mark G. Schoeppner
--------------------------------------------
Mark G. Schoeppner
Page 15 of 15 Pages