EXHIBIT 12
EMERSON RADIO CORP. AND SUBSIDIARIES
EXHIBIT TO FORM 10-K
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERRED STOCK DIVIDENDS
(In thousands, except ratio data)
<Table>
<Caption>
HISTORICAL
--------------------------------------------------------------
YEAR YEAR YEAR YEAR YEAR
ENDED ENDED ENDED ENDED ENDED
MAR. 31, MAR. 31, MAR. 31, MAR. 31, APR. 2,
2003 2002 2001 2000 1999
---------- ---------- ---------- ---------- ----------
PRETAX EARNINGS $ 17,757 $ 11,746 $ 11,709 $ 3,043 $ 496
FIXED CHARGES:
INTEREST 2,098 3,053 3,745 1,932 1,925
AMORTIZATION OF DEBT EXPENSES 608 403 533 352 347
LEASE EXPENSE 3,489 3,413 3,064 1,316 1,305
---------- ---------- ---------- ---------- ----------
6,195 6,869 7,342 3,600 3,577
---------- ---------- ---------- ---------- ----------
PRETAX EARNINGS BEFORE
FIXED CHARGES $ 23,952 $ 18,615 $ 19,051 $ 6,643 $ 4,073
========== ========== ========== ========== ==========
FIXED CHARGES:
INTEREST $ 2,098 $ 3,053 $ 3,745 $ 1,932 $ 1,925
AMORTIZATION OF DEBT EXPENSES 608 403 533 352 347
LEASE EXPENSE 3,489 3,413 3,064 1,316 1,305
PREFERRED STOCK DIVIDEND
REQUIREMENTS -- -- 51 103 171
---------- ---------- ---------- ---------- ----------
$ 6,195 $ 6,869 $ 7,393 $ 3,703 $ 3,748
========== ========== ========== ========== ==========
RATIO OF EARNINGS TO
COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS 3.87 2.71 2.58 1.79 1.09
========== ========== ========== ========== ==========
COVERAGE DEFICIENCY -- -- -- -- --
========== ========== ========== ========== ==========
</Table>
The preferred stock dividend requirements have been adjusted to reflect the
pretax earnings which would be required to cover such dividend requirements.