EXHIBIT 12.1
AKI HOLDING CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
PREDECESSOR
----------------------------------------------------------------
NINE MONTHS JULY 1,
FISCAL YEAR ENDED JUNE 30, ENDED 1997 TO
----------------------------------- MARCH 31, DECEMBER 15,
1995 1996 1997 1997 1997
----------- ----------- ----------- ------------- --------------
Income (loss) before
income taxes ............ 7,247 4,279 7,117 6,676 3,234
Add:
Interest on all
indebtedness which
includes amortization
of deferred financing
costs ................... 6,170 6,762 6,203 4,694 2,646
----- ----- ----- ----- -----
Earnings available for
fixed charges ........... 13,417 11,041 13,320 11,370 5,880
Fixed charges ............ 6,170 6,762 6,203 4,694 2,646
------ ------ ------ ------ -----
Ratio of earnings to
fixed charges .......... 2.2 1.6 2.1 2.4 2.2
HOLDING
-----------------------------------------
PRO FORMA
--------------------------
DECEMBER 16, FISCAL YEAR NINE MONTHS
1997 TO ENDED ENDED
MARCH 31, JUNE 30, MARCH 31,
1998 1997 1998
-------------- ------------- ------------
Income (loss) before
income taxes ............ (1,325) (1,542) (878)
Add:
Interest on all
indebtedness which
includes amortization
of deferred financing
costs ................... 5,163 16,640 12,401
------ ------ ------
Earnings available for
fixed charges ........... 3,838 15,098 11,523
Fixed charges ............ 5,163 16,640 12,401
------ ------ ------
Ratio of earnings to
fixed charges .......... -- -- --
Earnings were not sufficient to cover fixed charges by $1,325, $1,542 and $878
for the period from December 16, 1997 to March 31, 1998, the pro forma fiscal
year ended June 30, 1997 and the pro forma nine months ended March 31, 1998,
respectively.