Exhibit 12.1
THE MAXIM GROUP, INC.
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Computation of Ratio of Earnings to Fixed Charges
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(in thousands)
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YEAR ENDED Ten Months Year Six Months Six Months
------------------------------- Ended Ended Ended Ended
March 31, March 31, March 31, January 31, January 31, July 31, July 31,
1993 1994 1995 1996 1997 1996 1997
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EARNINGS:
Income (Loss) before provision
for income taxes per
statement of operations............ $ 5,942 $845 $15,429 $(4,140) $ 4,074 $1,790 $12,724
ADD:
Portion of rents
representative of the
interest factor.................... 185 420 1,066 1,396 1,796 810 906
Interest on indebtedness........... 3,846 1,886 1,839 4,695 7,006 3,213 2,663
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Income as adjusted................. $9,973 $3,151 $18,334 $ 1,951 $12,876 $5,813 $16,293
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FIXED CHARGES:
Portion of rents
representative of the
interest factor.................... 185 420 1,066 1,396 1,796 810 906
Interest on indebtedness........... 3,846 1,886 1,839 4,695 7,006 3,213 2,663
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Fixed charges...................... $4,031 $2,306 $ 2,905 $ 6,091 $ 8,802 $4,023 $ 3,569
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Ratio of earnings to fixed
charges............................ 2.5 1.4 6.3 0.3 1.5 1.4 4.6