EXHIBIT 12.01 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
SALEM COMMUNICATIONS CORPORATION ------------------------------------------------------------------------------- YEAR ENDED DECEMBER 31 ------------------------------------------------------------------------------- 1996 1997 1998 1999 2000 -------- -------- -------- -------- -------- Pretax income (loss) from continuing operations............... $ 19,408 $ (1,086) $ (1,924) $ (6,086) $ 18,292 Interest expense...................... 7,361 12,706 15,941 14,219 17,452 Interest portion of rent expense...... 1,274 1,601 1,615 2,000 2,467 -------- -------- -------- -------- -------- Earnings......................... $ 28,043 $ 13,221 $ 15,632 $ 10,133 $ 38,211 ======== ======== ======== ======== ======== Interest expense...................... $ 7,361 $ 12,706 $ 15,941 $ 14,219 $ 17,452 Interest portion of rent expense...... 1,274 1,601 1,615 2,000 2,467 -------- -------- -------- -------- -------- Fixed Charges..................... $ 8,635 $ 14,307 $ 17,556 $ 16,219 $ 19,919 ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges.... 3.2x 0.9x 0.9x 0.6x 1.9x ======== ======== ======== ======== ========
SALEM COMMUNICATIONS CORPORATION ------------------------------------------------------------------ PRO FORMA SIX MONTHS ENDED --------------------------------- ------------------------------ YEAR ENDED SIX MONTHS ENDED JUNE 30, 2000 JUNE 30, 2001 DECEMBER 31, 2000 JUNE 30, 2001 ------------- ------------- ----------------- ------------- Pretax income (loss) from continuing operations............... $ 408 $ (9,371) $ 10,485 $(10,376) Interest expense...................... 5,219 12,749 25,259 13,754 Interest portion of rent expense...... 1,000 1,233 2,467 1,233 -------- -------- -------- -------- Earnings......................... $ 6,627 $ 4,611 $ 38,211 $ 4,611 ======== ======== ======== ======== Interest expense...................... $ 5,219 $ 12,749 $ 25,259 $ 13,754 Interest portion of rent expense...... 1,000 1,233 2,467 1,233 -------- -------- -------- -------- Fixed Charges..................... $ 6,219 $ 13,982 $ 27,726 $ 14,987 ======== ======== ======== ======== Ratio of Earnings to Fixed Charges.... 1.1x 0.3x 1.4x 0.3x ======== ======== ======== ========
SALEM COMMUNICATIONS HOLDING CORPORATION ----------------------------------------------------------------------------- PRO FORMA ----------------------------------- YEAR ENDED SIX MONTHS ENDED YEAR ENDED SIX MONTHS ENDED DECEMBER 31, 2000 JUNE 30, 2001 DECEMBER 31, 2000 JUNE 30, 2001 ----------------- ------------- ----------------- ------------- Pretax income (loss) from continuing operations............... $ 21,910 $ (3,306) $ 28,125 $ (4,311) Interest expense....................... 15,572 12,747 23,379 13,752 Interest portion of rent expense....... 2,467 1,233 2,467 1,233 -------- -------- -------- -------- Earnings.......................... $ 39,949 $ 10,674 $ 53,971 $ 10,674 ======== ======== ======== ======== Interest expense....................... $ 15,572 $ 12,747 $ 23,379 $ 13,752 Interest portion of rent expense....... 2,467 1,233 2,467 1,233 -------- -------- -------- -------- Fixed Charges...................... $ 18,039 $ 13,980 $ 25,846 $ 14,985 ======== ======== ======== ======== Ratio of Earnings to Fixed Charges..... 2.2x 0.8x 2.1x 0.7x ======== ======== ======== ========