RIDDELL SPORTS INC. EXHIBIT 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands except ratio information)
PRO FORMA
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Three
Three months Year months
Year ended December 31, ended March 31, ended ended
---------------------------------------- --------------- Dec. 31, Mar. 31,
1992 1993 1994 1995 1996 1996 1997 1997 1997
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Earnings:
Income (loss) before taxes, extraordinary
item and cumulative effect of changes
in accounting principles $ 1,238 ($7,726) ($6,183) $2,471 $2,953 $1,350 ($ 17) ($ 955) ($6,002)
Add fixed charges, from below 2,208 2,346 2,334 3,239 3,247 744 790 14,657 3,613
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$ 3,446 ($5,380) ($3,849) $5,710 $6,200 $2,094 $ 773 $ 13,702 ($2,389)
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Fixed Charges:
Interest expense $ 1,902 $ 2,029 $ 2,001 $2,795 $2,763 $ 628 $ 666 $ 13,927 $ 3,431
One-third of rent expense 306 317 333 444 484 116 124 730 182
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$ 2,208 $ 2,346 $ 2,334 $3,239 $3,247 $ 744 $ 790 $ 14,657 $ 3,613
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Ratio of earnings to fixed charges 1.6 * * 1.8 1.9 2.8 1.0 0.9 *
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Amount by which earnings are inadequate to
cover fixed charges -- $ 7,726 $ 6,183 -- -- -- $ 17 $ 955 $ 6,002
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* -- Amount results in a deficiency
(1) One-third of rent expense is deemed representative of that portion of
rental expense estimated to be attributable to interest.