EX-12.1 2 dex121.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re: Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

 

     Years Ended

 
    

June 29,

2001


   

June 28,

2002


   

June 27,

2003


   

June 25,

2004


   June 24,
2005


 

Earnings:

                                       

Income (loss) before income taxes

   $ (12,991 )   $ (65,076 )   $ (92,572 )   $ 45,182    $ (26,546 )

Add:

                                       

Interest expensed

     109       146       317       87      680  

Interest capitalized

     —         —         —         —        —    

Interest component of rent expense

     1,802       1,206       1,742       1,782      2,255  
    


 


 


 

  


Earnings as defined

   $ (11,080 )   $ (63,724 )   $ (90,513 )   $ 47,051    $ (23,611 )
    


 


 


 

  


Fixed charges:

                                       

Interest expensed

   $ 109     $ 146     $ 317     $ 87    $ 680  

Interest capitalized

     —         —         —         —        —    

Interest component of rent expense

     1,802       1,206       1,742       1,782      2,255  
    


 


 


 

  


Fixed charges as defined

   $ 1,911     $ 1,352     $ 2,059     $ 1,869    $ 2,935  
    


 


 


 

  


Ratio of earnings to fixed charges

     —   (a)     —   (a)     —   (a)     25.2      —   (a)
    


 


 


 

  



(a) Earnings were insufficient to cover fixed charges by $12,991, $65,076, $92,572 and $26,546 for the years ended June 29, 2001, June 28, 2002, June 27, 2003 and June 24, 2005, respectively.

 

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, and an interest component of rent expense.

 

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