EX-12.1 2 ex121.htm EXHIBIT 12.1
Exhibit 12.1
Dycom Industries, Inc.
Computation of Ratio of Earnings to Fixed Charges

|  | Six Months Ended |  | Fiscal Year Ended
|  | January 26, 2013 |  | July 28, 2012 |  | July 30, 2011 |  | July 31, 2010 |  | July 25, 2009 |  | July 26, 2008
|  | (Dollars in thousands)
Earnings, as defined: |  |  |  |  |  |  |  |  |  |  |
| Income (loss) from continuing operations before cumulative effect of changes in accounting principles | $ | 13,323 |  |  | $ | 39,378 |  |  | $ | 16,107 |  |  | $ | 5,849 |  |  | $ | (53,094 | ) |  | $ | 24,404 |
| Income tax expense (benefit) | 9,022 |  |  | 25,183 |  |  | 12,377 |  |  | 4,881 |  |  | (1,405 | ) |  | 13,180 |
| Fixed charges included in the determination of net income | 14,432 |  |  | 24,001 |  |  | 22,185 |  |  | 20,292 |  |  | 21,921 |  |  | 20,520 |
| Total earnings, as defined | $ | 36,777 |  |  | $ | 88,562 |  |  | $ | 50,669 |  |  | $ | 31,022 |  |  | $ | (32,578 | ) |  | $ | 58,104 |
Fixed charges, as defined: |  |  |  |  |  |  |  |  |  |  |
| Interest charges | $ | 9,946 |  |  | $ | 16,745 |  |  | $ | 16,017 |  |  | $ | 14,272 |  |  | $ | 14,743 |  |  | $ | 13,096 |
| Rental interest factor | 4,539 |  |  | 7,256 |  |  | 6,168 |  |  | 6,020 |  |  | 7,178 |  |  | 7,424 |
| Total fixed charges, as defined | $ | 14,485 |  |  | $ | 24,001 |  |  | $ | 22,185 |  |  | $ | 20,292 |  |  | $ | 21,921 |  |  | $ | 20,520 |
Ratio of earnings to fixed charges | 2.5x |  |  | 3.7x |  |  | 2.3x |  |  | 1.5x |  |  | (*) |  |  | 2.8x |
*The ratio of earnings to fixed charges was less than one-to-one for fiscal 2009 and earnings were insufficient to cover fixed charges by $76.4 million.