EX-12.1 2 c71782exv12w1.htm EXHIBIT 12.1 Filed by Bowne Pure Compliance
 

Exhibit 12.1
QUANEX CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
Ratio of earnings to fixed charges is computed by dividing earnings, as defined, by fixed charges. Fixed charges consist of interest charges, (both expensed and capitalized), amortization of debt issuance costs and the portion of rental expense representative of the interest factor. The computation is as follows:
                                         
    Fiscal years ended October 31,  
    2003     2004     2005     2006     2007  
 
                                        
Earnings:
                                        
Income from continuing operations before taxes
   $ 43,646     $ 57,428     $ 177,233     $ 160,313     $ 134,622  
Add: fixed charges (from below)
     3,449       7,177       10,862       7,366       6,439  
 
                                        
 
                              
 
   $ 47,095     $ 64,605     $ 188,095     $ 167,679     $ 141,061  
 
                              
 
                                        
Fixed Charges:
                                        
Interest expense
   $ 2,388     $ 5,431     $ 8,715     $ 4,235     $ 3,786  
Debt issuance amortization
     312       535       585       583       134  
Capitalized interest
     —       —       —       —       —  
1/3 of rental expense
     749       1,211       1,562       2,548       2,519  
 
                              
 
   $ 3,449     $ 7,177     $ 10,862     $ 7,366     $ 6,439  
 
                              
 
                                        
Ratio of earnings to fixed charges
     13.7x       9.0x       17.3x       22.8x       21.9x