EXHIBIT 12
PENHALL INTERNATIONAL INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
THREE MONTHS ENDED
FISCAL YEARS SEPTEMBER 30,
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1994 1995 1996 1997 1998 1997 1998
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Earnings (loss) before income taxes... $6,647,000 $8,315,000 $8,623,000 $ 9,864,000 $5,232,000 $3,536,000 $(8,522,000)
Fixed charges--interest expense....... $ 399,000 $ 623,000 $ 919,000 $ 947,000 $1,204,000 $ 285,000 $ 2,663,000
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$7,046,000 $8,938,000 $9,542,000 $10,811,000 $6,436,000 $3,621,000 $(5,859,000)
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Ratio of Earnings to Fixed Charges.... 17.7 to 1 14.3 to 1 10.4 to 1 11.4 to 1 5.3 to 1 13.4 to 1 -- (1)
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(1) The Company's earnings were insufficient to cover its fixed charges by
$8,522,000.