EXHIBIT 12
NAI TECHNOLOGIES, INC.
RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS OF DOLLARS)
First Quarter Year Ended December 31,
------------------------------ -------------------------------------------------------
1995 1996 1997 1992 1993 1994 1995 1996
--------- -------- ------- -------- -------- --------- --------- --------
Income (loss from continuing
operations ($ 1,094) ($ 450) 379 $ 5,051 $ 5,455 ($11,591) ($11,619) $ 2,413
Income taxes (benefit)............. 86 135 147 2,920 2,840 (4,392) 377 396
-------- -------- -------- -------- -------- -------- -------- --------
Income (loss) from continuing
operations before income taxes... (1,008) (315) 526 7,971 8,295 (15,983) (11,242) 2,809
-------- -------- -------- -------- -------- -------- -------- --------
Add fixed charges:
Interest expense................ 394 565 401 619 786 1,477 1,662 2,209
Deferred debt expense........... -- 55 104 -- -- -- 900 456
-------- -------- -------- -------- -------- -------- -------- --------
Total fixed charges................ 394 620 505 619 786 1,477 2,562 2,665
-------- -------- -------- -------- -------- -------- -------- --------
Total income (loss) and
fixed charges.................... ($ 614) $ 305 $ 1,031 $ 8,590 $ 9,081 ($14,506) ($ 8,680) $ 5,474
======== ======== ======== ======== ======== ======== ======== ========
Ratio ............................. * 0.49 2.04 13.88 11.55 * * 2.05
======== ======== ======== ======== ======== ======== ======== ========
* Earnings are inadequate to cover fixed charges. The coverage deficiency is
$1,008 for the 1st quarter of 1995, $15,983 for 1994 and $11,242 in 1995.