EX-12.1 15 a2193463zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 

CELLU TISSUE HOLDINGS, INC.

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

June 13, 2006-

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

March 1, 2006-

 

February 28,

 

Fiscal Year

 

Three months ended

 

 

 

2005

 

2006

 

June 12, 2006

 

2007

 

2008

 

2009

 

May 29, 2008

 

May 28, 2009

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

17,427,888

 

$

17,076,757

 

$

4,896,355

 

$

11,468,975

 

$

19,870,029

 

$

24,709,461

 

$

4,979,688

 

$

6,506,553

 

Lease imputed interest

 

1,253,813

 

1,268,023

 

309,024

 

769,743

 

1,070,577

 

1,158,027

 

289,507

 

314,794

 

Total Fixed Charges

 

$

18,681,701

 

$

18,344,780

 

$

5,205,379

 

$

12,238,718

 

$

20,940,606

 

$

25,867,488

 

$

5,269,195

 

$

6,821,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax income

 

$

3,022,350

 

$

(6,144,486

)

$

(8,332,914

)

$

(10,838,850

)

$

(207,658

)

$

5,948,913

 

$

1,568,440

 

$

6,408,818

 

Fixed Charges

 

18,681,701

 

18,344,780

 

5,205,379

 

12,238,718

 

20,940,606

 

25,867,488

 

5,269,195

 

6,821,347

 

Total Earnings

 

$

21,704,051

 

$

12,200,294

 

$

(3,127,535

)

$

1,399,868

 

$

20,732,948

 

$

31,816,401

 

$

6,837,635

 

$

13,230,165

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.16

x

0.67

x

(0.60

)x

0.11

x

0.99

x

1.23x

 

1.30

x

1.94

x