Exhibit 12.1
The Newark Group, Inc.
Calculation of Ratio of Earnings to Fixed Charges
For the Years Ended April 30, 2008, 2007, 2006, 2005 and 2004
(in thousands, except ratios)
Year Ended April 30, | ||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest and amortization of debt issuance costs | $ | 28,028 | $ | 27,448 | $ | 26,385 | $ | 25,075 | $ | 16,856 | ||||||||||
Portion of rental expense representing interest | 700 | 643 | 579 | 507 | 430 | |||||||||||||||
Total fixed charges | 28,728 | 28,091 | 26,964 | 25,582 | 17,286 | |||||||||||||||
Earnings (loss): | ||||||||||||||||||||
Earnings (loss) from continuing operations1 | (18,387 | ) | (449 | ) | (10,932 | ) | (3,044 | ) | (32,691 | ) | ||||||||||
Earnings (loss) plus fixed charges | 10,341 | 27,642 | 16,032 | 22,538 | (15,405 | ) | ||||||||||||||
Ratio of earnings to fixed charges2 | — | — | — | — | — | |||||||||||||||
1 | Earning (loss) from continuing operations represent earnings (loss) before income taxes, equity in income of affiliate investees (net), minority interest and cumulative effect of accounting changes. |
2 | Earnings, as defined, were not enough to cover fixed charges in each of the above years. The deficiencies were: $18,387; $449; $10,932; $3,044 and $32,691 for the years ended April 30, 2008, 2007, 2006, 2005 and 2004. |