EX-12.1 38 y50886ex12-1.txt STATEMENT RE COMPUTATION OF RATIO OF EARNINGS 1 Exhibit 12.1 PSF GROUP HOLDINGS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PRO FORMA FOR FOR THE PERIOD FISCAL YEARS ENDED THE FISCAL YEAR MAY 13, 1998 TO ENDED MARCH 27, 1999 MARCH 25, 2000 MARCH 31, 2001 MARCH 31, 2001 (DOLLARS IN THOUSANDS) Earnings(loss) from continuing operations(a) (52,922) (6,986) 37,140 32,213 ------- ------ ------ ------ Fixed Charges Interest Expense 17,883 21,265 24,141 27,952 Debt Expense and Amortization 180 280 743 743 Interest Factor of Rental Expense 223 292 402 462 ------- ------ ------ ------ Total Fixed Charges 18,286 21,837 25,286 29,157 ------- ------ ------ ------ Earnings (b) (34,636) 14,851 62,426 61,370 ======= ====== ====== ====== Ratio of Earnings to Fixed Charges (c) (d) 2.47 2.10
(a) earnings(loss) from continuing operations consists of net income(loss) before income taxes adjusted for minority interest and undistributed earnings or losses from equity investees. (b) earnings include net income(loss) before income taxes and fixed charges. Fixed charges consist of all interest on indebtedness, amortization of debt expense, and the portion of rental expense which represents an interest factor in these rentals at an assumed rate of 11%. (c) For the period ended March 27, 1999 the company's earnings were insufficient to cover fixed charges by $52.9 million. (d) For the fiscal year ended 2000 the company's earnings were insufficient to cover fixed charges by $7.0 million.