1 EXHIBIT 12 CALCULATION OF EARNINGS TO FIXED CHARGES (Dollars in thousands) Fiscal years ended January 1, May 16, 1998 May 16, 1998 Six Months ---------------------------------- 1998 to May to December, to June 28, Ended June 1994 1995 1996 1997 15, 1998 31, 1998 1998 27, 1999 ------- ------- ------- ------- ----------- ------------ ------------ ---------- Calculation of rental expense fixed charge, as Defined: Total rental expense $ 848 $ 542 $ 584 $ 603 $ 215 $ 444 $ 69 $ 409 ======= ======= ======= ======= ======= ======= ======= ======= One-third of rental expense $ 283 $ 181 $ 195 $ 201 $ 72 $ 148 $ 23 $ 136 ======= ======= ======= ======= ======= ======= ======= ======= Earnings, as Defined: Income before income taxes $10,439 $11,278 $11,758 $ 6,784 $ 1,848 $ 1,653 $ 1,623 $ 3,552 Interest expense -- -- -- -- -- 4,705 900 4,341 One-third of rental expense 283 181 195 201 72 148 23 136 ------- ------- ------- ------- ------- ------- ------- ------- Total earnings as defined (A) $10,722 $11,459 $11,953 $ 6,985 $ 1,920 $ 6,506 $ 2,546 $ 8,029 ======= ======= ======= ======= ======= ======= ======= ======= Fixed Charges, as Defined: Interest expense $ -- $ -- $ -- $ -- $ -- $ 4,705 $ 900 $ 4,341 One-third of rental expense 283 181 195 201 72 148 23 136 ------- ------- ------- ------- ------- ------- ------- ------- Total fixed charges, as defined (B) $ 283 $ 181 $ 195 $ 201 $ 72 $ 4,853 $ 923 $ 4,477 ======= ======= ======= ======= ======= ======= ======= ======= Ratio of Earnings to Fixed Charges (A)/(B) 37.9 63.4 61.4 34.8 26.8 1.3 2.8 1.8