EXHIBIT 12.1
HENRY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS)
FOR THE YEAR ENDED PRO FORMA
DECEMBER 31, THREE MONTHS ENDED THREE MONTHS ENDED
1995 1996 1997 MARCH 31, 1997 MARCH 31, 1998 MARCH 31, 1998
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EARNINGS:
Earnings (loss) before taxes $ (504) $ 72 $ 2,221 $ (386) $ 605 $(2,098)
Add: Fixed Charges* 1,691 1,706 2,361 576 546 2,437
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$ 1,187 $ 1,778 $ 4,582 $ 190 $ 1,151 $ 339
*FIXED CHARGES:
Interest expense $ 1,454 $ 1,475 $ 1,465 $ 352 $ 322 $ 2,162
Interest on rent 237 231 896 224 224 275
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$ 1,691 $ 1,706 $ 2,361 $ 576 $ 546 $ 2,437
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Ratio of Earnings
to Fixed Charges --(1) 1.0 1.9 -- (1) 2.1 -- (1)
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The ratios of earnings to fixed charges were computed by dividing earnings
by fixed charges. For this purpose, "earnings" consist of earnings before
taxes plus fixed charges and "fixed charges" consist of interest expense and
the portion of rents representative of an interest factor.
(1) Earnings were insufficient to cover fixed charges for these periods.