EX-12 4 d07342exv12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 EMERSON RADIO CORP. AND SUBSIDIARIES EXHIBIT TO FORM 10-K COMPUTATION OF RATIO OF EARNINGS 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, MAR. 31, APR. 2, 2003 2002 2001 2000 1999 ---------- ---------- ---------- ---------- ---------- PRETAX EARNINGS $ 17,757 $ 11,746 $ 11,709 $ 3,043 $ 496 FIXED CHARGES: INTEREST 2,098 3,053 3,745 1,932 1,925 AMORTIZATION OF DEBT EXPENSES 608 403 533 352 347 LEASE EXPENSE 3,489 3,413 3,064 1,316 1,305 ---------- ---------- ---------- ---------- ---------- 6,195 6,869 7,342 3,600 3,577 ---------- ---------- ---------- ---------- ---------- PRETAX EARNINGS BEFORE FIXED CHARGES $ 23,952 $ 18,615 $ 19,051 $ 6,643 $ 4,073 ========== ========== ========== ========== ========== FIXED CHARGES: INTEREST $ 2,098 $ 3,053 $ 3,745 $ 1,932 $ 1,925 AMORTIZATION OF DEBT EXPENSES 608 403 533 352 347 LEASE EXPENSE 3,489 3,413 3,064 1,316 1,305 PREFERRED STOCK DIVIDEND REQUIREMENTS -- -- 51 103 171 ---------- ---------- ---------- ---------- ---------- $ 6,195 $ 6,869 $ 7,393 $ 3,703 $ 3,748 ========== ========== ========== ========== ========== RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS 3.87 2.71 2.58 1.79 1.09 ========== ========== ========== ========== ========== COVERAGE DEFICIENCY -- -- -- -- -- ========== ========== ========== ========== ==========
The preferred stock dividend requirements have been adjusted to reflect the pretax earnings which would be required to cover such dividend requirements.