EX-12 10 a03-6365_1ex12.htm EX-12

EXHIBIT 12

 

Andrew Corporation

 

Ratio of Earnings to Fixed Charges and Preferred Stock

 

(In thousands)

 

 

 

As of or For the Year Ended September 30

 

 

 

2003

 

2002

 

2001

 

2000

 

1999

 

Income from Continuing Operations
Before Income Taxes

 

$

23,326

 

$

13,070

 

$

101,392

 

$

129,139

 

$

52,134

 

 

 

 

 

 

 

 

 

 

 

 

 

Minority Interest (Income) Expense

 

12

 

(316

)

(2,422

)

1,981

 

(88

)

Loss from Equity Investments

 

—

 

134

 

618

 

3,626

 

1,374

 

Fixed Charges

 

16,812

 

8,824

 

11,158

 

12,267

 

8,861

 

Adjusted Earnings

 

40,150

 

21,712

 

110,746

 

147,013

 

62,281

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

5,675

 

5,079

 

7,413

 

8,862

 

5,329

 

Rent Expense (1)

 

4,678

 

3,745

 

3,745

 

3,405

 

3,532

 

Preferred Stock Dividends

 

6,459

 

—

 

—

 

—

 

—

 

Fixed Charges

 

$

16,812

 

$

8,824

 

$

11,158

 

$

12,267

 

$

8,861

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

2.4

 

2.5

 

9.9

 

12.0

 

7.0

 

 

(1) Rent included in this computation consists of one-third of rental expense which Andrew believes to be a conservative estimate of the interest component of rent expense.

 

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