Exhibit 12.1
COYNE INTERNATIONAL ENTERPRISES CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
Six Months
Year Ended October 31, Ended April 30,
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1993 1994 1995 1996 1997 1997 1998
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Income (loss) before income taxes,
extraordinary item and cumulative
effect of change in accounting
principles $ 2,563 $ (224) $ 1,341 $ 1,393 $ 4,077 $ 1,662 $(15,673)
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Fixed charges:
Interest on loans and notes $ 4,451 $ 5,292 $ 5,706 $ 6,198 $ 6,130 $ 3,118 $ 3,107
Amortization of debt issuance costs
and original issue discount $ 208 $ 224 $ 548 $ 588 $ 585 $ 292 $ 288
Interest component of rental expense $ 1,172 $ 1,268 $ 1,311 $ 883 $ 825 $ 423 $ 393
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Total fixed charges included in earnings $ 5,831 $ 6,784 $ 7,565 $ 7,669 $ 7,540 $ 3,833 $ 3,788
Capitalized interest $ 128 $ 97
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Total fixed charges $ 5,831 $ 6,784 $ 7,693 $ 7,766 $ 7,540 $ 3,833 $ 3,788
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Income (loss) before income taxes,
extraordinary item, cumulative
effect of change in accounting
principles and fixed charges $ 8,394 $ 6,560 $ 8,906 $ 9,062 $ 11,617 $ 5,495 $(11,885)
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Ratio of earnings to fixed charges 1.440 -- 1.158 1.167 1.541 1.434 --
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Deficiency of earnings to fixed charges -- $ (224) $ -- $ -- $ -- $ -- $(15,673)
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