EXHIBIT 12.1
Computation of Ratios of Combined Earnings &
Preferred Stock Dividends to Earnings
(dollars in thousands)
9 months Fiscal Year
Ended Ended Ended Ended
Jan. 2, Dec. 27, Jan. 1, Jan. 2,
FY96 FY97 FY98 1999 1997 2000 1999
----- ------ ------ -------- -------- -------- --------
Interest Expense(1) 3,540 1,830 3,345 8,177 1,108 10,614 10,414
Estimated interest portion
of rent expense 62 55 66 74 48 110 91
--- --- --- --- --- ---- --
Fixed Charges 3,602 1,885 3,411 8,251 1,157 10,723 10,505
Income (loss) before income tax (1,460) 3,710 9,221 (1,561) 8,980 (4,719) (1,320)
------- ------ ------ ------- ------ ------- -------
Earnings 2,142 5,595 12,632 6,690 10,137 6,004 9,185
Preferred stock dividend requirements(2) 0 0 0 (215) 0 (567) (215)
Combined earnings & preferred stock
dividends 2,142 5,595 12,632 6,475 10,137 5,437 8,970
Ratio of combined earnings & preferred
stock dividends to earnings 0.59 2.97 3.70 0.78 8.76 0.51 0.85
(1) INCLUDING AMORTIZATION OF DEFERRED
FINANCING COSTS
(2) AFTER TAX
Earnings insufficiency (1,460) 0 0 (1,776) 0 (5,286) (1,535)