Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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| Historical Predecessor |
| Pro forma Parent |
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| Fiscal Year |
| Fiscal Year |
| Fiscal Year |
| Three Months |
| Three Months |
| Fiscal Year |
| Three Months |
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| (dollars in thousands) |
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Earnings calculation: |
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Income before taxes |
| $ | 31,253 |
| $ | 23,248 |
| $ | 12,361 |
| $ | 5,751 |
| $ | 3,177 |
| $ | (6,762 | ) | $ | (1,637 | ) |
Add Back: Fixed Charges |
| 19,888 |
| 17,846 |
| 16,046 |
| 4,098 |
| 3,938 |
| 27,930 |
| 6,997 |
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Calculated Earnings |
| $ | 51,141 |
| $ | 41,094 |
| $ | 28,407 |
| $ | 9,849 |
| $ | 7,115 |
| $ | 21,168 |
| $ | 5,360 |
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Fixed charges calculation (a) |
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Interest expense (b) |
| $ | 19,055 |
| $ | 16,979 |
| $ | 15,213 |
| $ | 3,881 |
| $ | 3,711 |
| $ | 27,097 |
| $ | 6,770 |
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Interest expense portion of rental expense |
| 833 |
| 867 |
| 833 |
| 217 |
| 227 |
| 833 |
| 227 |
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| $ | 19,888 |
| $ | 17,846 |
| $ | 16,046 |
| $ | 4,098 |
| $ | 3,938 |
| $ | 27,930 |
| $ | 6,997 |
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Ratio: Earnings / Fixed charges |
| 2.57 |
| 2.30 |
| 1.77 |
| 2.40 |
| 1.81 |
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| (c) |
| (c) |
(a) Fixed charges exclude capitalized interest; capitalized interest is zero.
(b) Includes normal debt issue amortization costs, but does not include gain or loss on debt extinguishment.
(c) For the fiscal year ended October 1, 2010 and three months ended December 31, 2010, Parent pro forma earnings were not sufficient to cover fixed charges. Parent needed additional earnings of $6,762 and $1,637, respectively, to achieve a ratio of earni
Interest expense portion of rental expense: |
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Rental expense |
| 2,500 |
| 2,600 |
| 2,500 |
| 650 |
| 680 |
| 2,500 |
| 680 |
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Estimated Interest Cost |
| 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % |
Calculated total |
| 833 |
| 867 |
| 833 |
| 217 |
| 227 |
| 833 |
| 227 |
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