PRECISION PARTNERS
Exhibit 12.1
PRECISION PARTNERS, INC.
STATEMENT RE COMPUTATION OF RATIOS
(PREDECESSOR) (PRECISION PARTNERS)
JANUARY 1, 1998 SEPTEMBER 9, 1998
THROUGH THROUGH
1995 1996 1997 SEPTEMBER 30, 1998 DECEMBER 31, 1998 1999
(IN THOUSANDS, EXCEPT RATIO DATA)
EARNINGS:
Income (loss) before income taxes, $1,844 $4,938 $ 5,853 $ 4,381 $(286) $ (7,645)
extraordinary items, and cumulative
effect of accounting change
Interest and amortization of debt expense 108 69 85 37 526 12,812
Rental expense representative of interest
factor 188 188 188 141 92 802
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TOTAL EARNINGS $2,140 $5,195 $ 6,126 $4,559 $ 332 $ 5,969
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FIXED CHARGES:
Interest and amortization of debt expense 108 69 85 37 526 12,812
Rental expense representative of interest
factor 188 188 188 141 92 802
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TOTAL FIXED CHARGES $ 296 $ 257 $ 273 $178 $ 618 $ 13,614
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RATIO OF EARNINGS TO FIXED CHARGES(1) 7.2 20.2 22.4 25.6 0.5 0.4
(1) For the purposes of computing the ratio of earnings to fixed charges,
earnings consists of income (loss) before income taxes, extraordinary
items and cumulative effect of change in accounting, plus fixed charges.
Fixed charges consist of interest and amortization of debt expense plus
a portion of operating lease expense.