EX-12 8 l03575aexv12.txt EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 ADVANCED LIGHTING TECHNOLOGIES, INC. STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands)
THREE MONTHS ENDED SEPTEMBER 30, ---------------------------- 2003 2002 ------------- ------------- Income (loss) before income taxes and minority interest $ (6,155) $ (1,127) Interest expense 3,420 2,789 Interest portion of rent expense 169 208 ------------- ------------- EARNINGS $ (2,566) $ 1,870 ============= ============= Interest expense $ 3,420 $ 2,789 Interest capitalized 18 107 Interest portion of rent expense 169 208 Preferred share accretion - 699 ------------- ------------- FIXED CHARGES $ 3,607 $ 3,803 ============= ============= RATIO OF EARNINGS TO FIXED CHARGES - 0.5 ============= =============
For purposes of calculating the unaudited ratio of earnings to fixed charges, earnings consist of income (loss) before provision for income taxes plus fixed charges. Fixed charges consist of interest charges and amortization of debt issuance costs, whether expensed or capitalized, the portion of rental expense that is representative of interest, and preferred share accretion. For the three months ended September 30, 2003, earnings were inadequate to cover fixed charge requirements by $6,173. For the three months ended September 30, 2002, earnings were inadequate to cover fixed charge requirements by $1,933.