1 Exhibit 12.1 GLASSTECH, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES PREDECESSOR COMPANY REORGANIZED COMPANY ------------------------------------------- ------------------------------------------- PERIOD FROM PERIOD FROM JULY 1, 1994 JANUARY 4, 1995 YEAR ENDED YEAR ENDED THROUGH THROUGH YEAR ENDED YEAR ENDED JUNE 30, 1993 JUNE 30, 1994 JANUARY 3, 1995 JUNE 30, 1995 JUNE 30, 1996 JUNE 30, 1997 ------------- ------------ --------------- ------------- ------------- ------------ | Consolidated income before income taxes $ (89,010) $ 1,404 $ 219 | $ 915 $ 3,400 $ 9,127 Add: | Interest expense 26,556 - - | 2,077 4,200 4,200 Amortization of deferred financing costs 3,289 - - | - - - Portion of operating lease rentals deemed | to be interest 100 100 50 | 50 100 100 --------- ---------- ---------- | --------- ---------- ---------- Consolidated income as adjusted $ (59,086) $ 1,504 $ 269 | $ 3,042 $ 7,700 $ 13,427 ========= ========== ========== | ========= ========== ========== | Fixed charges: | Interest expense $ 26,556 $ - $ - | $ 2,077 $ 4,200 $ 4,200 Amortization of deferred financing costs 3,289 - - | - - - Portion of operating lease rentals deemed | to be interest 100 100 50 | 50 100 100 --------- ---------- ---------- | --------- ---------- ---------- Total fixed charges $ 29,945 $ 100 $ 50 | $ 2,127 $ 4,300 $ 4,300 ========= ========== ========== | ========= ========== ========== | Ratio of earnings to fixed charges - 15.00 5.40 | 1.40 1.80 3.12 Deficiency of earnings to cover fixed charges $ 89,010 |