Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
|
| Nine Months Ended |
| Year Ended |
| ||||||||||||||
|
| September 29, 2017 |
| December 30, 2016 |
| January 1, 2016 |
| January 2, 2015 |
| December 27, 2013 |
| December 28, 2012 |
| ||||||
Income (loss) before income tax expense |
| $ | 10,678 |
| $ | 11,367 |
| $ | 7,341 |
| $ | 8,426 |
| $ | 2,762 |
| $ | (19,383 | ) |
Interest expense |
| $ | 88 |
| $ | 179 |
| $ | 207 |
| $ | 16 |
| $ | 94 |
| $ | 106 |
|
Capitalized interest |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||
Interest portion of rent expense(1) |
| $ | 901 |
| $ | 1,072 |
| $ | 947 |
| $ | 1,001 |
| $ | 1,135 |
| $ | 1,205 |
|
Total Earnings |
| $ | 11,667 |
| $ | 12,618 |
| $ | 8,495 |
| $ | 9,443 |
| $ | 3,991 |
| $ | (18,072 | ) |
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest expense |
| $ | 88 |
| $ | 179 |
| $ | 207 |
| $ | 16 |
| $ | 94 |
| $ | 106 |
|
Capitalized interest |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||
Interest portion of rent expense(1) |
| $ | 901 |
| $ | 1,072 |
| $ | 947 |
| $ | 1,001 |
| $ | 1,135 |
| $ | 1,205 |
|
Total fixed charges |
| $ | 989 |
| $ | 1,251 |
| $ | 1,154 |
| $ | 1,017 |
| $ | 1,229 |
| $ | 1,311 |
|
Ratio of Earnings to Fixed Charges(2)(3) |
| 11.80x |
| 10.09x |
| 7.36x |
| 9.29x |
| 3.25x |
| — |
| ||||||
(1) One third of rent expense is the portion deemed representative of the interest factor.
(2) Earnings were insufficient to cover fixed charges by $19.4 million for the year ended December 28, 2012.
(3) The Company did not have any preferred stock outstanding for any of the periods shown above.
