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ADVANCED LIGHTING TECHNOLOGIES, INC.
EXHIBIT 12 -- STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
THREE MONTHS ENDED NINE MONTHS ENDED
MARCH 31, MARCH 31,
------------------- -----------------
2000 1999 2000 1999
---- ---- ---- ----
Consolidated pretax income
from continuing operations $ 1,268 $ (9,344) $ 1,805 $(45,354)
Interest expense 3,580 3,809 10,693 9,990
Interest portion of rent expense 126 126 405 429
-------- --------- -------- ---------
EARNINGS $ 4,974 $ (5,409) $ 12,903 $(34,935)
======== ========= ======== =========
Interest expense $ 3,580 $ 3,809 $ 10,693 $ 9,990
Interest capitalized 94 90 290 548
Interest portion of rent expense 126 126 405 429
Preferred shares accretion 605 -- 1,208 --
-------- --------- -------- ---------
FIXED CHARGES $ 4,405 $ 4,025 $ 12,596 $ 10,967
======== ========= ======== =========
RATIO OF EARNINGS TO FIXED CHARGES 1.1 -- 1.0 --
======== ========= ======== =========
For purposes of calculating the unaudited ratio of earnings to fixed charges,
earnings consist of income (loss) from continuing operations before provision
for income taxes plus fixed charges. Fixed charges consist of interest charges
and amortization of debt issuance costs, whether expensed or capitalized, that
portion of rental expense that is representative of interest, and preferred
shares accretion. In the three months ended March 31, 1999, earnings were
inadequate to cover fixed charge requirements by $9,434. In the nine months
ended March 31, 1999, earnings were inadequate to cover fixed charge
requirements by $45,902.
