EXHIBIT 12.1
Statement Regarding Computation of
Ratio of Earnings to Fixed Charges
(Dollars in thousands)
Six Months Ended
NE Restaurant Company, Inc. Year Ended December 31, June 30,
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1993 1994 1995 1996 1997 1997 1998
----- ----- ----- ----- ----- ----- -----
Earnings
Net Income (Loss) 1,267 1,610 1,421 1,958 2,100 986 943
Income Tax expense (Benefit) -- 1,122 699 1,047 1,084 543 473
----- ----- ----- ----- ----- ----- -----
Earnings 1,267 2,732 2,120 3,005 3,184 1,529 1,416
===== ===== ===== ===== ===== ===== =====
Fixed Charges
Interest expense including
amortization of debt costs 27 90 463 1,053 1,918 607 1,864
Interest portion of rental expense 837 922 986 997 1,187 599 726
----- ----- ----- ----- ------ ----- -----
Fixed Charges 864 1,012 1,449 2,050 3,105 1,206 2,590
Earnings Available for Fixed Charges 2,131 3,744 3,569 5,055 6,289 2,735 4,006
Ratio of Earnings to Fixed Charges 2.5 3.7 2.5 2.5 2.0 2.3 1.5
28 Weeks Ended
Fiscal Year Ended ------------------
Bertucci's December 27, July 12, July 11,
Earnings 1997 1997 1998
----------- ------- -------
Net Income (Loss) 3,508 1,767 1,822
Income tax expense (Benefit) 2,009 1,014 994
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Earnings 5,517 2,781 2,816
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Fixed Charges
Interest expense including 1,037 622 482
amortization of debt costs
Rent Expense 11,110 5,555 5,795
Allocation Factor (30%) 30% 30% 30%
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Interest portion of rental expense 3,333 1,667 1,738
Fixed Charges 4,370 2,289 2,220
Earnings Available for Fixed Charges 9,887 5,070 5,036
Ratio of Earnings to Fixed Charges 2.3 2.2 2.3
Proforma
First Six Months Last
Fiscal ---------------- Twelve
Earnings 1997 1997 1998 Months
------ ---- ---- ------
Net Income (Loss) (1,099) (801) (789) (1,087)
Income tax expense (Benefit) (592) (419) (509) (682)
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Earnings (1,691) (1,220) (1,298) (1,769)
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Fixed Charges
Interest expense including
amortization of debt costs 12,136 6,162 7,279 13,253
Rent Expense 15,065 7,553 8,216 15,728
Allocation FaFactor (30%) 30% 30% 30% 30%
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Interest portion of rental expense 4,520 2,266 2,465 4,718
Fixed Charges 16,656 8,428 9,744 17,971
Earnings Available for Fixed Charges 14,965 7,208 8,446 16,202
Ratio of Earnings to Fixed Charges 0.9 0.9 0.9 0.9
(1,691) (1,220) (1,298) (1,769)