EX-12 4 c78438exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges
 

Exhibit 12

WMS INDUSTRIES INC.

Computation of Ratio of Earnings to Fixed Charges

(in thousands except ratio information)

                                                 
                                            Nine
                                            Months
                                            Ended
    Fiscal Year Ended June 30,   March 31,
   
 
    1998   1999   2000   2001   2002   2003
   
 
 
 
 
 
Earnings
                                                
Pre-tax income (loss) from continuing operations
   $ (66,840 )   $ 14,203     $ 71,438     $ 49,987     $ 15,450     $ (6,217 )
Add back fixed charges:
                                                
Fixed charges
     567       613       434       567       567       457  
 
    
     
     
     
     
     
 
Earnings (loss)
   $ (66,273 )   $ 14,816     $ 71,872     $ 50,554     $ 16,017     $ (5,760 )
 
    
     
     
     
     
     
 
Fixed Charges
                                                
Interest portion of rent expense
   $ 567     $ 613     $ 434     $ 567     $ 567     $ 457  
 
    
     
     
     
     
     
 
Ratio of Earnings to Fixed Charges
     (1 )     24.2 x     165.6 x     89.2 x     28.2 x     (1 )

(1)  Our pre-tax income was inadequate to cover fixed charges for the year ended June 30, 1998 by approximately $67.4 million and for the nine months ended March 31, 2003 by approximately $6.7 million.