EXHIBIT 12.1
STATEMENT OF CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the purpose of calculating the ratio of earnings to fixed charges, “earnings” represent income before income taxes plus fixed charges. “Fixed charges” consist of (a) interest expensed and capitalized; (b) amortized premiums, discounts and capitalized expenses related to indebtedness; (c) an estimate of the interest within rental expenses; and (d) preference security dividend requirements of consolidated subsidiaries.
Qtr Ended | ||||||||||||||||||||||||
28-Dec | 3-Jan | 2-Jan | 31-Dec | 30-Dec | 31-Mar | |||||||||||||||||||
2001 | 2002 | 2003 | 2004 | 2005 | 2006 | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
LOSS BEFORE INCOME TAXES AND MINORITY INVESTMENT | $ | (18,510 | ) | $ | (7,898 | ) | $ | (7,162 | ) | $ | (10,246 | ) | $ | (9,958 | ) | $ | (3,155 | ) | ||||||
INCOME/(LOSS) FROM EQUITY INVESTEE | 389 | 36 | 11 | (191 | ) | 158 | (5 | ) | ||||||||||||||||
EARNINGS BEFORE FIXED CHARGES | $ | (18,121 | ) | $ | (7,862 | ) | $ | (7,151 | ) | $ | (10,437 | ) | $ | (9,800 | ) | $ | (3,160 | ) | ||||||
FIXED CHARGES | ||||||||||||||||||||||||
INT EXP (INC AMORT OF DEBT COSTS) | 640 | 579 | 322 | 215 | 170 | 41 | ||||||||||||||||||
ESTIMATED INTEREST WITHIN RENTAL EXPENSES | 367 | 367 | 400 | 400 | 400 | 103 | ||||||||||||||||||
TOTAL FIXED CHARGES | 1,007 | 946 | 722 | 615 | 570 | 144 | ||||||||||||||||||
TOTAL EARNINGS | (17,114 | ) | (6,916 | ) | (6,429 | ) | (9,822 | ) | (9,230 | ) | (3,016 | ) | ||||||||||||
FIXED CHARGES | 1,007 | 946 | 722 | 615 | 570 | 144 | ||||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES(1) | — | — | — | — | — | — | ||||||||||||||||||
(1) | For the fiscal years ended December 28, 2001, January 3, 2003, January 2, 2004, December 31, 2004, December 30, 2006, and the three months ended March 31, 2006, our earnings were insufficient to cover fixed charges by $18.1 million, $7.9 million, $7.2 million, $10.4 million, $9.8 million and $3.2 million, respectively. |