EXHIBIT 12.1
Computation of Ratios of Combined Earnings and
Preferred Stock Dividends to Earnings
(dollars in thousands)
Fiscal Year Fiscal Year Nine Months Nine Months Fiscal Year
Ended Ended Ended Ended Ended
Mar. 29, Mar. 28, Dec. 27, Jan. 2, Jan. 2,
1997 1998 1997 1999 1999
Interest expense (1) $1,830 $3,345 $1,108 $8,177 $10,614
Estimated interest portion of rent expense 55 66 48 74 110
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Fixed charges 1,855 3,411 1,157 8,251 10,723
Income (loss) before income taxes 3,710 9,221 8,980 (1,561) (4,719)
------- ------- ------- --------- ---------
Earnings 5,595 12,632 10,137 6,690 6,004
Preferred stock dividend requirements(2) 0 0 0 (215) (567)
Combined earnings and preferred stock
dividends 5,595 12,632 10,137 6,475 5,437
Ratio of combined earnings and preferred
stock dividends to earnings 2.97 3.70 8.76 0.78 0.51
Earnings insufficiency n/a n/a n/a (1,776) (5,286)
Fiscal Year Fiscal Year
Ended Ended
Jan. 1, Dec. 30,
2000 2000
Interest expense (1) $10,414 $10,612
Estimated interest portion of rent expense 91 120
------- -------
Fixed charges 10,505 10,732
Income (loss) before income taxes (1,320) (3,357)
------- -------
Earnings 9,185 7,375
Preferred stock dividend requirements(2) (215) (578)
Combined earnings and preferred stock
dividends 8,970 6,797
Ratio of combined earnings and preferred
stock dividends to earnings 0.85 0.63
Earnings insufficiency (1,535) (3,935)
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(1) Including amortization of deferred financing costs.
(2) After tax.