EX-12.1 3 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

Matrix Service Company

Ratio of Earnings to Fixed Charges

(In Thousands Except Ratios)

 

    

Nine Months Ended
February 28,

2005

     2004
     2003
     2002
     2001
     2000

Ratio of Earnings to Fixed Charges

    *     5.78     9.31     9.89     10.02     10.38
    
 
 
 
 
 

Fixed Charges:

                                   

Interest Expensed

    3,165     2,699     990     255     407     368

Interest Capitalized

    —             274     364     4     —  

Amortized premiums, discounts and capitalized expenses related to indebtedness

    468     212     57     31     26     21

Estimated interest within rental expense

    287     425     452     377     345     378
    
 
 
 
 
 

Total

    3,920     3,336     1,773     1,027     782     767
    
 
 
 
 
 

Earnings:

                                   

Pre-tax income (loss) from continuing operations

    (38,078 )   16,070     12,890     9,488     7,060     7,196

Less: Equity Earnings

    —       (857 )   (644 )   —       —       —  

Plus: Fixed Charges

    3,920     3,336     1,773     1,027     782     767

Plus: Amortization of Capitalized Interest

    15     19     9     1            

Plus: Distributed Earnings of Equity Investees

    —       701     2,749     —       —       —  

Less: Interest Capitalized

    —       —       (274 )   (364 )   (4 )   —  
    
 
 
 
 
 

Total

    (34,143 )   19,269     16,503     10,152     7,838     7,963
    
 
 
 
 
 
* Earnings were inadequate to cover fixed charges by $38,063.