EXHIBIT 12.1
HENRY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS)
DECEMBER 31, 1997 DECEMBER 31, 1998
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EARNINGS:
Earnings before taxes $ 2,221 $ 1,581
Add: Fixed Charges* 2,361 7,188
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$ 4,582 $ 8,769
*FIXED CHARGES
Interest expense $ 1,465 $ 6,567
Interest on rent 896 451
Amortization of Debt Issuance Costs -- 170
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$ 2,361 $ 7,188
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Ratio of Earnings to Fixed Charges 1.9 1.2
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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.