EX-12 4 exhibit_12.htm EXHIBIT 12 exhibit_12.htm
EXHIBIT 12
 
GILAT SATELLITE NETWORKS LTD.
 
Computation of Ratios of Earnings to Fixed Charges
 
   
Year ended December 31,
  
   
2006
    
2007
    
2008
    
2009
    
2010
  
   
(Dollars in thousands, except ratios)
  
Earnings:
                                        
Income before taxes on income
     12,844       11,053       321       2,782       30,630  
Add: Fixed charges
     7,594       3,086       2,950       2,737       2,679  
Deduct: Interest on capital notes recognized in 2003 based on FAS 15.
     653       653       653       649       625  
      19,785       13,486       2,618       4,870       32,684  
Fixed Charges:
                                        
Interest expense
     6,437       2,433       2,297       2,089       2,050  
Interest on troubled debt recorded in 2003 according to FAS 15
     653       653       653       649       625  
Amortized discounts
     504                                  
An estimate of the interest within rental expenses
                                     4  
      7,594       3,086       2,950       2,737       2,679  
                                         
Ratio of Earnings to Fixed Charges
     2.61       4.37       (* )     1.78       12.2  
 
(*)The earnings for year ended December 31, 2008 were inadequate to cover total fixed charges. The coverage deficiency for total fixed charges for the year ended December 31, 2008 was $0.3 million.