Exhibit 12.1
CPI INTERNATIONAL HOLDING CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | Successor | | | Predecessor |
| | | | | Year Ended | | Period February 11 to | | | Period October 2, 2010 to | | Year Ended |
| | | | | September 27, 2013 | | September 28, 2012 | | September 30, 2011 | | | February 10, 2011 | | October 1, 2010 | | October 2, 2009 |
| Earnings calculation: | | | | | | | | | | | | | |
| Income (loss) before taxes | | $ | 16,295 |
| | $ | 7,100 |
| | $ | (8,549 | ) | | | $ | (3,747 | ) | | $ | 12,361 |
| | $ | 23,248 |
|
| Add Back: Fixed Charges | | 28,291 |
| | 28,218 |
| | 18,305 |
| | | 6,118 |
| | 16,046 |
| | 17,846 |
|
| Calculated Earnings | | $ | 44,586 |
| | $ | 35,318 |
| | $ | 9,756 |
| | | $ | 2,371 |
| | $ | 28,407 |
| | $ | 41,094 |
|
| | | | | | | | | | | | | | | | |
| Fixed charges calculation (a) | | | | | | | | | | | | | |
| Interest expense (b) | | $ | 27,237 |
| | $ | 27,230 |
| | 17,708 |
| | | 5,788 |
| | 15,213 |
| | 16,979 |
|
| Interest expense portion of rental expense | | 1,054 |
| | 988 |
| | 597 |
| | | 330 |
| | 833 |
| | 867 |
|
| | | | | $ | 28,291 |
| | $ | 28,218 |
| | 18,305 |
| | | 6,118 |
| | 16,046 |
| | 17,846 |
|
| Ratio: Earnings / Fixed charges (c) | | 1.58 |
| | 1.25 |
| | — |
| | | — |
| | 1.77 |
| | 2.30 |
|
| | | | | | | | | | | | | | | | |
| Interest expense portion of rental expense: | | | | | | | | | | | | | |
| Rental expense | | $ | 3,163 |
| | $ | 2,965 |
| | 1,791 |
| | | 990 |
| | 2,500 |
| | 2,600 |
|
| Estimated Interest Cost | | 33 | % | | 33 | % | | 33 | % | | | 33 | % | | 33 | % | | 33 | % |
| Calculated total | | 1,054 |
| | 988 |
| | 597 |
| | | 330 |
| | 833 |
| | 867 |
|
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
| (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 periods February 11, 2011 to September 30, 2011 and October 2, 2010 to February 10, 2011, earnings were not sufficient to cover fixed charges by $8,500 and $3,700, respectively. |
