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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 Six Months Ended
Years Ended December 31, Ended September 30, March 31,
------------------------------------ September 30, ---------------------- -----------------------
1994 1995 1996 1997 1997 1998 1998 1999
----------- ----------- ---------- ------------ ---------- ---------- ----------- -----------
CONSOLIDATED
Earnings:
Income before income
taxes . . . . . . . . . $ 712 $ 1,549 $ 6,136 $ 6,143 $ 7,298 $12,638 $(12,570) $32,793
Fixed charges . . . . . . 249 325 223 251 283 2,486 227 5,588
------- ------- -------- ------- ------- ------- -------- -------
$ 961 $ 1,874 $ 6,359 $ 6,394 $ 7,581 $15,124 $(12,343) $38,381
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Fixed Charges:
Interest expense . . . . . $ 172 $ 286 $ 171 $ 164 $ 214 $ 1,161 $ 59 $ 4,923
Portion of rental cost
representing interest . 77 39 52 87 69 1,325 168 665
------- ------- -------- ------- ------- ------- -------- -------
$ 249 $ 325 $ 223 $ 251 $ 283 $ 2,486 $ 227 $ 5,588
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Ratio of earnings to fixed
charges . . . . . . . . . 3.9x 5.8x 28.5x 25.5x 26.8x 6.1x -- x 6.9x
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PRO FORMA:
Earnings:
Income before income
taxes . . . . . . . . . $83,951 $35,534
Fixed charges . . . . . . 6,095 5,769
------- -------
$90,046 $41,303
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Fixed Charges:
Interest expense . . . . . $ 4,292 $ 4,923
Portion of rental cost
representing interest . 1,803 846
------- -------
$ 6,095 $ 5,769
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Ratio of earnings to fixed
charges . . . . . . . . . 14.8x 7.2x
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PRO FORMA AS ADJUSTED:
Earnings:
Income before income
taxes . . . . . . . . . $72,714 $32,848
Fixed charges . . . . . . 17,332 8,455
------- -------
$90,046 $41,303
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Fixed Charges:
Interest expense . . . . . $15,529 $ 7,609
Portion of rental cost
representing interest . 1,803 846
------- -------
$17,332 $ 8,455
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Ratio of earnings to fixed
charges . . . . . . . . . 5.2x 4.9x
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