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EXHIBIT 12
INTEGRATED ELECTRICAL SERVICES, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS OF DOLLARS)
Nine Months Year Ended Quarter Ended
Years Ended December 31, Ended September 30, December 31,
------------------------------------ September 30, ---------------------- -----------------------
1994 1995 1996 1997 1997 1998 1997 1998
----------- ----------- ---------- ------------ ---------- ---------- ----------- -----------
CONSOLIDATED
Earnings:
Income before income
taxes . . . . . . . . . $ 712 $ 1,549 $ 6,136 $ 6,143 $ 7,298 $12,638 $(1,180) $15,792
Fixed charges . . . . . . 249 325 223 251 283 2,486 265 2,026
------- ------- -------- ------- ------- ------- ------- -------
$ 961 $ 1,874 $ 6,359 $ 6,394 $ 7,581 $15,124 $ (915) $17,818
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Fixed Charges:
Interest expense . . . . . $ 172 $ 286 $ 171 $ 164 $ 214 $ 1,161 $ 225 $ 1,695
Portion of rental cost
representing interest . 77 39 52 87 69 1,325 40 331
------- ------- -------- ------- ------- ------- ------- -------
$ 249 $ 325 $ 223 $ 251 $ 283 $ 2,486 $ 265 $ 2,026
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Ratio of earnings to fixed
charges . . . . . . . . . 3.9x 5.8x 28.5x 25.5x 26.8x 6.1x -- x 8.8x
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PRO FORMA:
Earnings:
Income before income
taxes . . . . . . . . . $64,090 $15,537
Fixed charges . . . . . . 5,736 2,145
------- -------
$69,826 $17,682
Fixed Charges:
Interest expense . . . . . $ 4,292 $ 1,708
Portion of rental cost
representing interest . 1,444 437
------- -------
$ 5,736 $ 2,145
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Ratio of earnings to fixed
charges . . . . . . . . . 12.2x 8.2x
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PRO FORMA AS ADJUSTED:
Earnings:
Income before income
taxes . . . . . . . . . $52,853 $13,380
Fixed charges . . . . . . 16,973 4,302
------- -------
$69,826 $17,682
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Fixed Charges:
Interest expense . . . . . $15,529 $ 3,865
Portion of rental cost
representing interest . 1,444 437
------- -------
$16,973 $ 4,302
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Ratio of earnings to fixed
charges . . . . . . . . . 4.1x 4.1x
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