EXHIBIT 12.1
Compass Aerospace Corporation
Statements re Computation of Ratio of Earnings to Fixed Charges
The ratio of earnings to fixed charges has been calculated by dividing
income before income taxes and fixed charges by fixed charges. Fixed charges
consist of interest expense and one third of operating rental expense, which
management believes is representative of the interest component of rental
expenses.
Compass Aerospace
Corporation Brittain Machine, Inc.(1)
for the Nine for the years ended June 30
Year Ended 36 Days Months and
December 31, December 31, 21 days ended
1998 1997 April 21, 1998 1997 1996 1995 1994
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Fixed Charges
Interest (income) expense, net 8,493 166 385 398 403 359 293
Interest portion of Net Rental 416 53 17 52 40 42 42
Expense
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Total Fixed Charges 8,909 219 402 450 443 401 335
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Earnings
Income (loss) before taxes 2,347 117 7,879 6,114 4,383 (414) 3,154
Fixed Charges 8,909 219 402 450 443 401 335
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Total Adjusted Earnings 11,256 336 8,281 6,564 4,826 (13) 3,489
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Ratio of earnings to fixed charges 1.3 1.5 20.6 14.6 10.9 (0.0) 10.4
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Three Months Three Months
Ended Ended
March 31, March 31,
1999 1998
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Fixed Charges
Interest (income) expense, net 5,074 361
Interest portion of Net Rental 206 51
Expense
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Total Fixed Charges 5,280 412
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Earnings
Income (loss) before taxes (2,034) 390
Fixed Charges 5,280 412
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Total Adjusted Earnings 3,246 802
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Ratio of earnings to fixed charges 0.6 1.9
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(1) Brittain Machine, Inc. is included as the predecessor of Compass Aerospace
Corporation.