EX-12.1 7 l94737eexv12w1.txt EX-12.1 COMPUTATION OF RATIO EARNINGS/FIXED CHRGES HAWK CORPORATION EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands) SIX MONTHS ENDED JUNE 30, ----------------------------- 2002 2001 ---- ---- Pre-tax (loss) income from continuing operations $ (671) $(1,119) Fixed Charges: Interest expense 4,640 4,834 Amortization of deferred financing costs 306 306 Interest relating to rental expense 166 202 -------- ------- Total fixed charges 5,112 5,342 Earnings available for fixed charges $ 4,441 $ 4,223 Ratio of earnings to fixed charges -- --
(Dollars in thousands) YEAR ENDED DECEMBER 31, ----------------------------------------------------------------------- 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Pre-tax (loss) income from continuing operations $ (6,194) $ 10,130 $ 9,991 $ 21,903 6,553 Fixed Charges: Interest expense 9,469 9,016 9,409 11,883 15,307 Amortization of deferred financing costs 612 612 612 731 956 Interest relating to rental expense 377 444 309 77 66 -------- -------- -------- -------- -------- Total fixed charges 10,458 10,072 10,330 12,691 16,329 Earnings available for fixed charges $ 4,264 $ 20,202 $ 20,321 $ 34,594 $ 22,882 Ratio of earnings to fixed charges -- 2.01 1.97 2.73 1.40
For the six month periods ended June 30, 2002 and 2001 and the year ended December 31, 2001, our earnings were insufficient to cover fixed charges. The additional earnings required to cover fixed charges would have been $671 for the six month period ended June 30, 2002, $1,119 for the six month period ended June 30, 2001 and $6,194 for the year ended December 31, 2001.