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Exhibit 12
HIGH VOLTAGE ENGINEERING CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
(Unaudited)
<TABLE>
<CAPTION>
FISCAL YEAR ENDED
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APRIL 29, APRIL 24, APRIL 25, APRIL 26, APRIL 27,
2000 1999 1998 1997 1996
---------- ---------- ---------- ---------- ----------
Earnings:
<S> <C> <C> <C> <C> <C>
Income (loss) from continuing
operations before income taxes,
discontinued operations and
extraordinary item................. $(26,780) $ 2,205 $(15,536) $(3,020) $ (4,629)
--------- -------- -------- ------- --------
Fixed charges:
Interest expense, accretion of
redeemable put warrants and
amortization of debt discount
and premium on all indebtedness.... 21,791 19,854 18,159 10,845 10,292
Portion of rent under long-term
operating leases representative
of an interest factor (1/3)........ 653 658 683 483 287
Accretion of redeemable preferred
stock.............................. 448 266 270 -- --
Preferred stock dividend requirement. 4,965 2,597 3,085 479 446
--------- -------- -------- ------- -------
Total fixed charges............. 27,857 23,375 22,197 11,807 11,025
--------- -------- -------- ------- --------
Earnings from continuing operations
before income taxes, discontinued
operations, extraordinary item
and fixed charges.................. $ 1,077 $25,580 $ 6,661 $ 8,787 $ 6,396
-------- ------- -------- ------- --------
-------- ------- --------- ------- --------
Ratio of earnings to fixed charges....... 0.04x 1.09x -- -- --
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The Company's earnings were inadequate to cover fixed charges by $15,536, $3,020
and $4,629 in fiscal 1999, 1998, 1997 and 1996, respectively.
