EX-12.1 3 ss120318_ex1201.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
Exhibit 12.1
 
Dycom Industries, Inc.
Computation of Ratio of Earnings to Fixed Charges
 
   
Nine Months Ended
   
Fiscal Year Ended
 
   
April 30, 2011
   
July 31, 2010
   
July 25, 2009
   
July 26, 2008
   
July 28, 2007
   
July 29, 2006
 
   
(Dollars in thousands)
 
Earnings, as defined:
                                   
Income (loss) from continuing operations before cumulative effect of changes in accounting principles
  $ 3,142     $ 5,849     $ (53,094 )   $ 24,404     $ 42,202     $ 18,040  
Income tax expense (benefit)
    3,144       4,881       (1,405 )     13,180       27,275       22,158  
Fixed charges included in the determination of net income
    16,425       20,292       21,921       20,520       20,653       17,930  
Total earnings, as defined
  $ 22,711     $ 31,022     $ (32,578 )   $ 58,104     $ 90,130     $ 58,128  
                                                 
Fixed charges, as defined:
                                               
Interest charges
  $ 11,903     $ 14,272     $ 14,743     $ 13,096     $ 14,809     $ 11,991  
Rental interest factor
    4,522       6,020       7,178       7,424       5,844       5,939  
Total fixed charges, as defined
  $ 16,425     $ 20,292     $ 21,921     $ 20,520     $ 20,653     $ 17,930  
                                                 
Ratio of earnings to fixed charges
    1.4 x     1.5 x     (*)       2.8 x     4.4 x     3.2 x
 
 
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* The ratio of earnings to fixed charges was less than one-to-one for fiscal 2009 and earnings were insufficient to cover fixed charges by $76.4 million.