EXHIBIT 12.1
AKI HOLDING CORP. AND SUBSIDIARIES
COMPUTATION OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
Holding Predecessor
------------------------------------------------------------------------- -----------
December 16, July 1, 1997
Fiscal year ended June 30, 1997 through through
-------------------------------------------------------- June 30, December 15,
2002 2001 2000 1999 1998 1997
---- ---- ---- ---- ---- ----
Income (loss) before
income taxes and
extraordinary item $ 6,720 $ 2,942 $ (850) $ (5,456) $ (7,545) $ 3,234
Add:
Interest on all indebtedness
which includes amortization
of deferred financing costs 15,633 16,911 17,401 16,740 11,327 2,646
--------- --------- --------- ---------- --------- ---------
Earnings available for fixed
charges 22,353 19,853 16,551 11,284 3,782 5,880
Fixed charges 15,633 16,911 17,401 16,740 11,327 2,646
--------- --------- --------- --------- --------- ---------
Ratio of earnings to
fixed charges 1.4x 1.2X --- --- --- 2.2x
Earnings were not sufficient to cover fixed charges by $850, $5,456, and $7,545
for the years ended June 30, 2000 and 1999 and the period from December 16, 1997
to June 30, 1998, respectively.