EXHIBIT 12.1
Interep National Radio Sales, Inc.
Calculation of Earnings to Fixed Charges
(Thousands of dollars)
Years Ended December 31,
1993 1994 1995 1996 1997
Earnings:
Operating income (loss) $ 1,760 $ 3,213 $ 3,777 $ 1,794 $(3,563)
Fixed charges 1,456 1,359 1,401 1,455 1,511
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Earnings as adjusted $ 3,216 $ 4,572 $ 5,178 $ 3,249 $(2,052)
Fixed Charges:
Interest on debt $ 3,191 $ 3,379 $ 3,494 $ 4,049 $ 3,888
Amortization of debt issuance costs 94 94 55 73 89
Imputed interest portion of rent 1,362 1,265 1,346 1,382 1,422
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Total fixed charges $ 4,647 $ 4,738 $ 4,895 $ 5,504 $ 5,399
Deficiency of earnings to fixed charges $ 1,431 $ 166 $ - $ 2,255 $ 7,451
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Ratio of earnings to fixed charges 1.06
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Proforma (1)
Six Months Ended Year Ended Six Months
June 30, December 31, Ended June 30,
1997 1998 1997 1998
Earnings:
Operating income (loss) $ 2,388 $ (661) $(3,563) $ (791)
Fixed charges 794 792 1,822 922
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Earnings as adjusted $ 3,182 $ 131 $(1,741) $ 131
Fixed Charges:
Interest on debt $ 1,663 $ 2,263 $10,000 $ 5,000
Amortization of debt issuance costs 54 70 400 200
Imputed interest portion of rent 740 722 1,422 722
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Total fixed charges $ 2,457 $ 3,055 $11,822 $ 5,922
Deficiency of earnings to fixed charges $ - $ 2,924 $13,563 $ 5,791
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Ratio of earnings to fixed charges 1.30
(1) Refer to the unaudited pro forma consolidated financial data for further
detail.