EXHIBIT 12.1
PENTACON, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands of Dollars)
HISTORICAL PRO FORMA
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FISCAL
NINE MONTHS FISCAL THREE MONTHS YEAR ENDED
YEAR ENDED DECEMBER 31, ENDED YEAR ENDED DECEMBER 31, ENDED
--------------------------- SEPTEMBER 30, SEPTEMBER 30, ----------------- SEPTEMBER 30,
1994 1995 1996 1997 1998 1997 1998 1998
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CONSOLIDATED:
Earnings:
Income before income
taxes ..................... $ 837 $ 2,419 $ 4,139 $ 4,529 $ 10,060 $ 248 $ 3,176
Fixed charges ................ 843 1,409 1,313 1,175 2,967 348 3,202
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$ 1,680 $ 3,828 $ 5,452 $ 5,704 $ 13,027 $ 596 $ 6,378
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Fixed Charges:
Interest expense ............. $ 686 $ 1,235 $ 1,118 $ 1,015 $ 2,448 $ 295 $ 2,953
Portion of rental cost
representing interest ..... 157 174 195 160 444 53 175
Net amortization of
debt issuance costs ....... -- -- -- -- 75 -- 74
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$ 843 $ 1,409 $ 1,313 $ 1,175 $ 2,967 $ 348 $ 3,202
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Ratio of earnings to
fixed charges ................. 2.0x 2.7x 4.2x 4.9x 4.4x 1.7x 2.0x
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PRO FORMA:
Earnings:
Income before income
taxes ..................... $ 8,666 $ 1,264
Fixed charges ................ 4,361 5,114
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$ 13,027 $ 6,378
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Fixed Charges:
Interest expense ............. $ 3,652 $ 4,777
Portion of rental
cost representing interest . 444 175
Net amortization of
debt issuance costs ....... 265 162
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$ 4,361 $ 5,114
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Ratio of earnings to
fixed charges ................. 3.0x 1.2x
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PRO FORMA AS ADJUSTED:
Earnings:
Income before income
taxes ..................... $ 15,715
Fixed charges ................ 17,165
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$ 32,880
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Fixed Charges:
Interest expense ............. $ 15,950
Portion of rental
cost representing interest 707
Net amortization of
debt issuance costs ....... 508
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$ 17,165
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Ratio of earnings to
fixed charges ................. 1.9x
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