EXHIBIT 12.1
AKI HOLDING CORP. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
PREDECESSOR HOLDING
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PRO FORMA
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FISCAL YEAR ENDED JUNE JULY 1, DECEMBER 16, FISCAL YEAR
30, 1997 TO 1997 TO ENDED
------------------------- DECEMBER 15, JUNE 30, JUNE 30,
1996 1997 1997 1998 1998
----------- ----------- -------------- -------------- ------------
Income (loss) before
income taxes ........... 4,279 7,117 3,234 (7,545) (3,620)
Add:
Interest on all
indebtedness which
includes amortization
of deferred financing
costs .................. 6,762 6,203 2,646 11,327 16,730
----- ----- ----- ------ ------
Earnings available for
fixed charges .......... 11,041 13,320 5,880 3,782 13,110
Fixed charges ........... 6,762 6,203 2,646 11,327 16,730
------ ------ ----- ------ ------
Ratio of earnings to
fixed charges ......... 1.6 2.1 2.2 -- --
Earnings were not sufficient to cover fixed charges by $7,545 and $3,620 for
the period from December 16, 1997 to June 30, 1998 and the pro forma fiscal
year ended June 30, 1998, respectively.