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ADVANCED LIGHTING TECHNOLOGIES, INC.
EXHIBIT 12 -- STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
<TABLE>
<CAPTION>
YEAR ENDED JUNE 30,
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2000 1999 1998 1997 1996
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<S> <C> <C> <C> <C> <C>
Consolidated pretax income (loss)
from continuing operations $ 2,588 $ (79,458) $ (25,319) $ 9,801 $ 3,427
Interest expense 14,314 13,889 3,818 1,513 1,548
Increase in value of warrants - - - - 1,350
Interest portion of rent expense 593 626 498 492 297
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EARNINGS (LOSS) $ 17,495 $ (64,943) $ (21,003) $ 11,806 $ 6,622
============ ============= ============ ============ =============
Interest expense $ 14,314 $ 13,889 $ 3,818 $ 1,513 $ 1,548
Increase in value of warrants - - - - 1,350
Interest capitalized 458 645 1,118 455 98
Interest portion of rent expense 593 626 498 492 297
Preferred shares accretion 1,796 - - - -
------------ ------------- ------------ ------------ -------------
FIXED CHARGES $ 17,161 $ 15,160 $ 5,434 $ 2,460 $ 3,293
============ ============= ============ ============ =============
RATIO OF EARNINGS TO FIXED CHARGES 1.0 - - 4.8 2.0
============ ============= ============ ============ =============
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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 cost, whether expensed or capitalized, and
that portion of rental expense that is representative of interest. Earnings were
inadequate to cover fixed charge requirements by $80,103 in fiscal 1999 and by
$26,347 in fiscal 1998.
