EXHIBIT 12.1
SYRATECH CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS
BEFORE FIXED CHARGES TO FIXED CHARGES
(in thousands, except ratios)
Year Ended December 31,
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Pro forma
1992 1993 1994 1995 1996 1996
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Excess of earnings available to cover fixed charges (1)......
Earnings:
Income before income taxes.................................. $6,276 $9,446 $10,617 $20,039 $32,623 $12,053
Add: Fixed charges........................................... 3,307 1,482 1,155 894 4,886 29,322
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Less: Pre-tax preferred stock dividends...................... -- -- -- -- -- 3,456
Earnings, as adjusted....................................... 9,583 10,928 11,772 20,933 37,509 37,919
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Fixed charges:
Interest on indebtedness.................................... 2,757 948 559 287 3,150 22,713
Amortization of debt issuance costs......................... -- -- -- -- -- 1,407
Pre-tax preferred stock dividends accrued................... -- -- -- -- -- 3,456
Portion of rents representative of the interest factor...... 550 534 596 607 1,736 1,746
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Fixed charges............................................... 3,307 1,482 1,155 894 4,886 29,322
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Excess of earnings to fixed charges.......................... $6,276 $9,446 $10,617 $20,039 $32,623 $12,053
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Ratio of earnings to fixed charges........................... 2.9x 7.4x 10.2x 23.4x 7.7x 1.3x
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(1) For purposes of these computations, earnings consist of income before income
taxes plus fixed charges. Fixed charges consist of interest on indebtedness
and amortization of debt issuance costs, pre-tax preferred stock dividends
accrued plus that portion of operating lease rental expense representative of
the interest factor. The pro forma ratio of earnings to fixed charges for the
year ended December 31, 1996 gives effect to the Recapitalization and the
acquisition of Rauch as if such transactions were consummated on January 1,
1996.