EX-12 4 exhibit12_2002.txt COMPUTATION RATIOS
EXHIBIT 12 EMERSON RADIO CORP. AND SUBSIDIARIES EXHIBIT TO FORM 10-K COMPUTATION OF RATIO OF EARNINGS (LOSS) TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In thousands, except ratio data) Historical -------------- --- -------------- --- ------------ --- ------------ --- ----------------- Year Year Year Year Year Ended Ended Ended Ended Ended Mar. 31, Mar. 31, Mar. 31, Apr. 2, Apr. 3, 2002 2001 2000 1999 1998 -------------- -------------- -------------- ------------- --------------- Pretax earnings (loss) $ 11,746 $ 11,709 $ 3,043 $ 496 $ (1,176) Fixed charges: Interest 3,053 3,745 1,932 1,925 1,833 Amortization of debt expenses 403 533 352 347 677 Lease expense 3,413 3,064 1,316 1,305 1,570 -------------- -------------- -------------- ------------- --------------- 6,869 7,342 3,600 3,577 4,080 -------------- -------------- -------------- ------------- --------------- Pretax earnings (loss) before fixed charges $ 18,615 $ 19,051 $ 6,643 $ 4,073 $ 2,904 ============== ============== ============== ============= =============== Fixed charges: Interest $ 3,053 $ 3,745 $ 1,932 $ 1,925 $ 1,833 Amortization of debt expenses 403 533 352 347 677 Lease expense 3,413 3,064 1,316 1,305 1,570 Preferred stock dividend requirements -- 51 103 171 400 -------------- -------------- -------------- ------------- --------------- $ 6,869 $ 7,393 $ 3,703 $ 3,748 $ 4,480 ============== ============== ============== ============= =============== Ratio of earnings (loss) to combined fixed charges and preferred stock dividends 2.71 2.58 1.79 1.09 .65 ============== ============== ============== ============= =============== Coverage deficiency -- -- -- -- $ 1,576 ============== ============== ============== ============= ===============
(a) The preferred stock dividend requirements have been adjusted to reflect the pretax earnings which would be required to cover such dividend requirements.