EXHIBIT 12.1 THE FONDA GROUP, INC. RATIO OF EARNINGS TO FIXED CHARGES (In thousands) FISCAL YEAR ENDED JULY ------------------------------------------------- 1992 1993 1994 1995 1996 -------- -------- -------- -------- --------- Interest expense (1) ............... $1,553 $1,209 $1,276 $3,005 $ 7,934 Rent expense ....................... 1,132 1,122 1,114 1,150 1,775 One third rent expense ............. 377 374 371 383 592 -------- -------- -------- -------- --------- Fixed charges ...................... $1,930 $1,583 $1,647 $3,388 $ 8,526 Income before taxes ................ $ 832 $1,416 $ 490 $3,767 $ 5,930 Fixed charges from above ........... 1,930 1,583 1,647 3,388 8,526 -------- -------- -------- -------- --------- Earnings, as defined ............... $2,762 $2,999 $2,137 $7,155 $14,456 Ratio of earnings to fixed charges 1.4x 1.9x 1.3x 2.1x 1.7x -------- -------- -------- -------- --------- - ------------ (1) Before interest income of $22, $8, $8 and $62 for 1992, 1993, 1994 and 1995, respectively.