Globe Manufacturing Corp.
Exhibit 12.1 Statement Re: Computation of ratio of earnings to fixed charges
Fiscal Year Ended: Six Months Ended:
December 31, June 30,
------------------------------------------------- -------------------------
Pro forma Pro forma
1993 1994 1995 1996 1997 1997 1997 1998 1998
------ ------ ------ ------ ------ --------- ------ ------ ---------
Fixed Charges:
- --------------
Interest expense 2,256 3,646 6,027 5,347 4,067 23,576 2,145 1,812 11,534
Interest capitalized 0 1,558 422 0 506 635 176 352 469
Interest portion of rental expense 21 22 18 6 7 7 3 4 4
Net amortization of debt issuance expense 490 438 297 151 94 1,492 55 41 746
------ ------ ------ ------ ------ --------- ------ ------ ---------
2,767 5,664 6,764 5,504 4,674 25,710 2,379 2,209 12,753
Earnings:
- ---------
Consolidated pretax income from continuing operations 14,884 6,706 4,127 13,346 25,232 3,592 14,016 17,878 6,758
Fixed charges per above 2,767 5,664 6,764 5,504 4,674 25,710 2,379 2,209 12,753
Less interest capitalized 0 1,558 422 0 506 635 176 352 469
------ ------ ------ ------ ------ --------- ------ ------ ---------
17,651 10,812 10,469 18,850 29,400 28,667 16,219 19,535 19,042
Ratio of earnings to fixed charges 6.38 1.91 1.55 3.42 6.29 1.12 6.92 9.84 1.49
========================================================================================================= =========================