EXHIBIT 12.1
Published on March 31, 2006
Exhibit 12.1
The Hillman Companies, Inc.
Computation of Ratio of Income to Fixed Charges
Year Ended December 31, 2005
(Dollars in thousands)
Computation of Ratio of Income to Fixed Charges
Year Ended December 31, 2005
(Dollars in thousands)
Income from Operations |
$ | 41,659 | ||
Depreciation |
15,605 | |||
Amortization |
7,228 | |||
Stock compensation expense |
1,601 | |||
Non-recurring expense (1) |
500 | |||
Proforma adjustments |
| |||
Earnings Before Interest, Taxes, Depreciation, and Amortization (Adjusted EBITDA) |
$ | 66,593 | ||
Capital Expenditures |
15,158 | |||
Interest on junior subordinated notes |
12,231 | |||
Cash Interest |
18,130 | |||
Scheduled Debt Payments |
2,175 | |||
Cash Taxes |
484 | |||
Fixed Charges |
$ | 48,178 | ||
Ratio of Adjusted EBITDA to Fixed Charges |
1.38 | |||
(1)
Non-recurring expense includes $500 of accounting fees
incurred in connection with the restatement of the Companys
2004
Form 10-K/A.
Form 10-K/A.