EXHIBIT 12.1
MASTER GRAPHICS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
Pro Forma
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Master Graphics, Inc.
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Year Twelve Months Nine Months Three Months
Ended Ended Ended Ended
December 31, September 30, September 30, September 30,
1997 1998 1998 1998
---- ---- ---- ----
Fixed Charges:
Interest expense $ 17,280 17,280 12,960 4,320
Amortization of deferred loan costs 1,145 1,145 858 286
Interest factor in rents 763 789 591 199
------------ ------------- ------------- -------------
Total Fixed Charges $ 19,187 19,213 14,409 4,805
============ ============= ============= =============
Earnings:
Income (loss) before income taxes and
extraordinary items $ (4,137) (304) 1,366 1,113
Fixed charges 19,187 19,213 14,409 4,805
------------ ------------- ------------- -------------
Total Earnings $ 15,050 18,909 15,775 5,918
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Ratio of Earnings to Fixed Charges - - 1.1 1.2
============ ============= ============= =============
Amount by which fixed charges
exceeded earnings $ 4,137 304 - -
============ ============= ============= =============
Pro Forma
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Premier Graphics, Inc.
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Year Twelve Months Nine Months Three Months
Ended Ended Ended Ended
December 31, September 30, September 30, September 30,
1997 1998 1998 1998
---- ---- ---- ----
Fixed Charges:
Interest expense 15,315 15,315 11,487 3,829
Amortization of deferred loan costs 1,145 1,145 858 286
Interest factor in rents 743 751 564 189
------------ ------------- ------------- -------------
Total Fixed Charges 17,203 17,211 12,909 4,304
============ ============= ============= =============
Earnings:
Income (loss) before income taxes and
extraordinary items (2,172) 1,661 2,839 1,604
Fixed charges 17,203 17,211 12,909 4,304
------------ ------------- ------------- -------------
Total Earnings 15,031 18,872 15,748 5,908
============ ============= ============= =============
Ratio of Earnings to Fixed Charges - 1.1 1.2 1.4
============ ============= ============= =============
Amount by which fixed charges
exceeded earnings 2,172 - - -
============ ============= ============= =============