EX-12 2 c88366a3exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

Exhibit 12

WMS INDUSTRIES INC.

Computation of Ratio of Earnings to Fixed Charges

                                         
    (in thousands except ratio information)
    Fiscal Year Ended June 30,
    2000
   2001
   2002
   2003
   2004
Earnings
                                        
Pre-tax income (loss) from continuing operations
   $ 71,438     $ 49,987     $ 15,450     $ (15,031 )   $ (3,033 )
Add back fixed charges:
                                        
Fixed charges
     449       605       589       711       4,482  
 
    
 		      
 		      
 		      
 		      
 		  
Earnings (loss)
   $ 71,887     $ 50,592     $ 16,039     $ (14,320 )     1,449  
 
    
 		      
 		      
 		      
 		      
 		  
Fixed Charges
                                        
Interest expense, including expense amortization
   $ —     $ —     $ —     $ 44     $ 3,798  
Interest portion of rent expense
     449       605       589       667       684  
 
    
 		      
 		      
 		      
 		      
 		  
Total Fixed Charges
   $ 449     $ 605     $ 589     $ 711     $ 4,482  
Ratio of Earnings to Fixed Charges
     160.1 x     83.6 x     27.2 x     (1 )     (1 )
 
    
 		      
 		      
 		      
 		      
 		  

(1) Our earnings were inadequate to cover fixed charges for the year ended June 30, 2003 by approximately $15.0 million and for the year ended June 30, 2004 by approximately $3.0 million.