Exhibit 12.1
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDENDS
SYNALLOY CORPORATION
| For the Nine Months
Ended September 29, 2012 |
2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||
| Income from continuing operations before income taxes |
$ | 4,867 | $ | 8,750 | $ | 6,150 | $ | 352 | $ | 8,479 | $ | 15,324 | ||||||||||||
| Fixed charges: |
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| Interest expense (1) |
$ | 252 | $ | 141 | $ | 54 | $ | 350 | $ | 685 | $ | 1,006 | ||||||||||||
| Capitalized interest |
— | — | — | — | — | — | ||||||||||||||||||
| Interest portion of rent expense (2) |
38 | 47 | 86 | 67 | 35 | 35 | ||||||||||||||||||
| Amortization of debt issuance costs |
21 | 27 | 11 | 71 | 50 | 55 | ||||||||||||||||||
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| Total fixed charges |
$ | 311 | $ | 215 | $ | 151 | $ | 488 | $ | 770 | $ | 1,096 | ||||||||||||
| Fixed charge adjustments |
— | — | — | — | — | — | ||||||||||||||||||
| Earnings |
$ | 5,178 | $ | 8,965 | $ | 6,301 | $ | 840 | $ | 9,249 | $ | 16,420 | ||||||||||||
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| Ratio of earnings to fixed charges |
16.64 | 41.76 | 41.82 | 1.72 | 12.02 | 14.99 | ||||||||||||||||||
| (1) | Interest expense excludes the mark-to-market adjustment for interest rate swap relating to a credit agreement entered into by the company. |
| (2) | Calculated as one-third of rent expense, which the company believes is a reasonable approximation of the interest factor. |