Exhibit 12.01
Portola Packaging, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(in thousands, except ratios)
For the years ended August 31, 2007, 2006, 2005, 2004 and 2003
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(in thousands, except ratios)
For the years ended August 31, 2007, 2006, 2005, 2004 and 2003
| Year ended August 31, | ||||||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
| Fixed Charges: | ||||||||||||||||||||
| Interest expense | $ | 17,966 | $ | 17,101 | $ | 16,439 | $ | 15,843 | $ | 12,544 | ||||||||||
| Debt issuance costs | 1,666 | 1,614 | 1,609 | 2,545 | 777 | |||||||||||||||
| Rent expense | 5,693 | 5,370 | 4,436 | 4,469 | 3,377 | |||||||||||||||
| Total fixed costs | 25,325 | 24,085 | 22,484 | 22,857 | 16,698 | |||||||||||||||
| Add: Capitalized interest | — | — | — | 176 | — | |||||||||||||||
| Net fixed charges | 25,325 | 24,085 | 22,484 | 23,033 | 16,698 | |||||||||||||||
| Earnings: | ||||||||||||||||||||
| Net income (loss) | (12,015 | ) | (28,766 | ) | (11,553 | ) | (20,791 | ) | (1,819 | ) | ||||||||||
| Income tax provision | 2,153 | 3,523 | 3,729 | 1,193 | 2,071 | |||||||||||||||
| Net fixed charges | 25,325 | 24,085 | 22,484 | 23,033 | 16,698 | |||||||||||||||
| Total pre-tax earnings less fixed charges | 15,463 | (1,158 | ) | 14,660 | 3,435 | 16,950 | ||||||||||||||
| Ratio of pre-tax earnings to fixed charges (1) | 0.61 | (0.05 | ) | 0.65 | 0.15 | 1.02 | ||||||||||||||
| (1) | The amounts of the deficiency in pre-tax earnings available to cover fixed charges from a ratio of 1.0x (in thousands) are $9,862, $25,243, $7,824 and $19,598 for the years ended August 31, 2007, 2006, 2005 and 2004. |