1 EXHIBIT 12.1 NEWCOR, INC. AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollar Amounts in Thousands) Fiscal Year Ended October 31, Three Months Ended January 31, -------------------------------------------------------------------- ------------------------------ Pro Forma Pro Forma Income (loss): 1993 1994 1995 1996 1997 1997 1997 1998 1998 Income (loss) before income taxes $ 146 $ (1,587) $ 3,621 $ 5,172 $ 6,009 $ 7,284 $ 564 $ (1,614) $ (1,536) Fixed charges 692 1,228 1,621 2,073 2,513 14,841 506 989 3,729 ----- -------- -------- -------- -------- -------- ------ -------- -------- Income (loss) before fixed charges $ 838 $ (359) $ 5,242 $ 7,245 $ 8,522 $ 22,125 $1,070 $ (625) $ 2,193 ===== ======== ======== ======== ======== ======== ====== ======== ======== Fixed Charges: Interest $ 575 $ 1,111 $ 1,504 $ 1,787 $ 2,070 $ 13,877 $ 432 $ 825 $ 3,451 Portion of rental expense 117 117 117 286 443 964 74 164 278 ----- -------- -------- -------- -------- -------- ------ -------- -------- Fixed charges $ 692 $ 1,228 $ 1,621 $ 2,073 $ 2,513 $ 14,841 $ 506 $ 989 $ 3,729 ===== ======== ======== ======== ======== ======== ====== ======== ======== Ratios of earnings to fixed charges 1.2 --(1) 3.2 3.5 3.4 1.5 2.1 --(2) --(3) (1) The Company's earnings were insufficient to cover fixed charges by $1.6 million for the fiscal year ended October 31, 1994. (2) The Company's earnings were insufficient to cover fixed charges by $1.6 million for the three months ended January 31, 1998. (3) On a pro forma basis, earnings were insufficient to cover fixed charges by $1.5 million for the three months ended January 31, 1998.