Exhibit 12.1
Matrix Service Company
Ratio of Earnings to Fixed Charges
(In Thousands except ratios)
Three Months Ended August 31, 2004 | 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||
Ratio of Earnings to Fixed Charges | * | 5.78 | 9.31 | 9.89 | 10.02 | 10.38 | |||||||||||
Fixed Charges: | |||||||||||||||||
Interest Expensed | 901 | 2,699 | 990 | 255 | 407 | 368 | |||||||||||
Interest Capitalized | — | — | 274 | 364 | 4 | — | |||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 97 | 212 | 57 | 31 | 26 | 21 | |||||||||||
Estimated interest within rental expense | 96 | 425 | 452 | 377 | 345 | 378 | |||||||||||
Total | 1,094 | 3,336 | 1,773 | 1,027 | 782 | 767 | |||||||||||
Earnings: | |||||||||||||||||
Pre-tax income (loss) from continuing operations | (1,503 | ) | 16,070 | 12,890 | 9,488 | 7,060 | 7,196 | ||||||||||
Less: Equity Earnings | — | (857 | ) | (644 | ) | — | — | — | |||||||||
Plus: Fixed Charges | 1,094 | 3,336 | 1,773 | 1,027 | 782 | 767 | |||||||||||
Plus: Amortization of Capitalized Interest | 5 | 19 | 9 | 1 | |||||||||||||
Plus: Distributed Earnings of Equity Investees | — | 701 | 2,749 | — | — | — | |||||||||||
Less: Interest Capitalized | — | — | (274 | ) | (364 | ) | (4 | ) | — | ||||||||
Total | (404 | ) | 19,269 | 16,503 | 10,152 | 7,838 | 7,963 | ||||||||||
* | Earnings were inadequate to cover fixed charges by $1,498 for the three months ended August 31, 2004. |