Form: 10-K

Annual report pursuant to Section 13 and 15(d)

March 25, 2005

Documents

 

Exhibit 12.1

The Hillman Companies, Inc.
Computation of Ratio of Income to Fixed Charges
Year Ended December 31, 2004
(Dollars in thousands)

         
Income from Operations
   $ 10,078  
Depreciation
     15,187  
Amortization
     5,748  
Stock compensation expense
     272  
Non-recurring expense
     30,707  
Proforma adjustments (1)
     942  
 
      
Earnings Before Interest, Taxes, Depreciation, and Amortization (“Adjusted EBITDA”)
   $ 62,934  
Capital Expenditures
     11,990  
Interest on junior subordinated notes
     12,231  
Cash Interest (2)
     16,129  
Scheduled Debt Payments (3)
     2,175  
Cash Taxes (4)
     1,314  
 
      
Fixed Charges
   $ 43,839  
 
 
      
Ratio of Adjusted EBITDA to Fixed Charges
     1.44  
 
      

(1) - Under the terms of the Senior Credit Agreement certain adjustments were made to Adjusted EBITDA for the three months ended March 31, 2004.

(2) - Per the Senior Credit Agreement Cash Interest for the three months ended March 31, 2004 were defined as $3,750. For the nine months ended December 31, 2004 actual Cash Interest was used.

(3) - Per the Senior Credit Agreement Scheduled Debt Payments for the three months ended March 31, 2004 were defined as $544. For the nine months ended December 31, 2004 actual Scheduled Debt Payments were used.

(4) - Per the Senior Credit Agreement Cash Taxes for the three months ended March 31, 2004 were defined as $1,250. For the nine months ended December 31, 2004 actual Cash Taxes were used.