EXHIBIT 12.1 COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (DOLLARS IN THOUSANDS) FISCAL YEAR ENDED ----------------------------------------------------- 1994 1995 1996 1997 1998 --------- --------- --------- --------- --------- Interest expense............................................ $ 2,722 $ 2,979 $ 3,540 $ 1,824 $ 3,340 Estimated interest portion of rent expense.................. 41 59 62 55 66 --------- --------- --------- --------- --------- Fixed charges............................................... $ 2,763 $ 3,038 $ 3,602 $ 1,879 $ 3,406 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Income (loss) before income taxes........................... $ (1,338) $ (358) $ (1,460) $ 3,709 $ 9,221 Fixed charges............................................... 2,763 3,038 3,602 1,879 3,406 --------- --------- --------- --------- --------- Earnings.................................................... $ 1,425 $ 2,680 $ 2,142 $ 5,588 $ 12,627 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Fixed charges............................................... $ 2,763 $ 3,038 $ 3,602 $ 1,879 $ 3,406 Preferred stock dividend requirements....................... -- -- -- -- 150 Accretion of carrying value of preferred stock.............. -- -- -- -- 28 --------- --------- --------- --------- --------- Combined fixed charges and preferred stock dividends........ $ 2,763 $ 3,038 $ 3,602 $ 1,879 $ 3,584 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Ratio of earnings to combined fixed charges and preferred stock dividends (1)........................................ 2.97x 3.52x --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- - ------------------------ (1) In fiscal 1994, 1995 and 1996, earnings were insufficient to cover fixed charges by approximately $1,338,000, $358,000 and $1,460,000, respectively.