EX-12.1 3 dex121.txt STATEMENT REGARDING COMPUTATION OF RATIOS EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in thousands)
Years Ended Three Months ----------------------------------------------------------------------- Ended June 27, June 26, June 25, June 30, June 29, September 28, 1997 1998 1999 2000 2001 2001 -------- -------- -------- -------- ------- ------------- Earnings: Income (loss) before income taxes $ 2,211 $ 97 $ 4,135 $ 19,973 $(12,991) $ (8,526) Add: Interest expensed 509 437 485 433 109 25 Interest capitalized 911 381 -------- -------- -------- -------- ------- ------------- Earnings as defined $ 2,720 $ 534 $ 5,531 $ 20,787 $(12,882) $ (8,501) ======== ======== ======== ======== ======= ============= Fixed charges: Interest expensed $ 509 $ 437 $ 485 $ 433 $ 109 $ 25 Interest capitalized - - 911 381 - - -------- -------- -------- -------- ------- ------------- Fixed charges as defined $ 509 $ 437 $ 1,396 $ 814 $ 109 $ 25 ======== ======== ======== ======== ======= ============= Ratio of earnings to fixed charges 5.3 1.2 4.0 25.5 - (a) - (a) ======== ======== ======== ======== ======= =============
(a) Earnings were insufficient to cover fixed charges by $12,991 for the year ended June 29, 2001 and by $8,526 for the thirteen-week period ended September 28, 2001. The ratio of earnings to fixed charges represents, on a pre-tax basis, the number of times earnings cover fixed charges. Earnings consist of net income or loss, to which has been added fixed charges and taxes based upon income or loss. Fixed charges consist of interest expense on borrowing, including capitalized interest during the period.
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS (Dollars in thousands) Years Ended Three Months --------------------------------------------------------------------- Ended June 27, June 26, June 25 June 30, June 29, September 28, 1997 1998 1999 2000 2001 2001 --------- ------ -------- -------- --------- -------- Earnings: Income (loss) before income taxes $ 2,211 $ 97 $ 4,135 $ 19,973 $ (12,991) $ (8,526) Add: Interest expensed 509 437 485 433 109 25 Interest capitalized 911 381 Preference security dividend requirements of consolidated subsidiaries 193 203 1,022 Less: Preference security dividend requirements of consolidated subsidiaries (193) (203) (1,022) --------- ------ -------- -------- --------- -------- Earnings as defined $ 2,720 $ 534 $ 5,531 $ 20,787 $ (12,882) $ (8,501) ========= ====== ======== ======== ========= ======== Fixed charges: Interest expensed $ 509 $ 437 $ 485 $ 433 $ 109 $ 25 Interest capitalized - - 911 381 - - Preference security dividend requirements of consolidated subsidiaries 193 203 1,022 --------- ------ -------- -------- --------- -------- Fixed charges as defined $ 702 $ 640 $ 2,418 $ 814 $ 109 $ 25 ========= ====== ======== ======== ========= ======== Ratio of earnings to fixed charges 3.9 0.8 2.3 25.5 - (a) - (a) ========= ====== ======== ======== ========= ========
(a) Earnings were insufficient to cover fixed charges by $12,991 for the year ended June 29, 2001 and by $8,526 for the thirteen-week period ended September 28, 2001. The ratio of earnings to combined fixed charges and preference dividends represents, on a pre-tax basis, the number of times earnings cover combined fixed charges and preference dividends. Earnings consist of net income or loss, to which has been added fixed charges and taxes based upon income or loss. Fixed charges consist of interest expense on borrowing, including capitalized interest during the period, and preference security divend requirements on consolidated subsidiaries.