EX-12.1 2 y95660a1exv12w1.txt STATEMENT OF COMPUTATION OF RATIOS . . . EXHIBIT 12.1 ------------
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES PRE-RECAPITALIZATION ------------------------------------------------------------------- JAN. 1, 2003 TO JAN. 9, (dollars in thousands) 1999 2000 2001 2002 2003 -------- -------- -------- -------- -------- EARNINGS: (unaudited) -------- Earnings from continuing operations before provision (benefit) for income taxes $ 30,100 $ 700 $ 13,000 $ 23,900 $ (1,400) Fixed Charges $ 8,094 $ 18,647 $ 30,267 $ 36,836 $ 1,019 Earnings from continuing operations -------- -------- -------- -------- --------- plus fixed charges $ 38,194 $ 19,347 $ 43,267 $ 60,736 $ (381 ======== ======== ======== ======== ========= FIXED CHARGES: -------------- Interest charges, net 6,888 16,997 28,657 35,031 976 Plus interest factor in operating rent expense 1,206 1,650 1,610 1,805 43 -------- -------- -------- -------- --------- Total fixed charges 8,094 18,647 30,267 36,836 1,019 ======== ======== ======== ======== ========= Ratio of earnings to fixed charges (excess of fixed charges over earnings)(4) 4.7x 1.0x 1.4x 1.6x (0.4)x ======== ======== ======== ======== =========
POST-NORTEK RECAPITALI- ZATION (1) ------------- Post-Nortek COMBINED PRO FORMA || Recapitali- FISCAL YEAR FISCAL YEAR || zation(1) || JAN. 10, 2003 ENDED ENDED || Jan. 1, 2003 Jan. 10, 2003 || TO DEC. 31, DECEMBER 31, DECEMBER 31, || to Jan. 9, to April 5, (dollars in thousands) || 2003 2003 2003 || 2003 2003 || -------- -------- -------- || ------------ -------------- EARNINGS: || (unaudited) || (unaudited) (unaudited) -------- || || || || Earnings from continuing operations || || before provision (benefit) for income taxes || $ 18,200 $ 16,800 $ 26,884 || $(1,400) $(8,300) Fixed Charges || $ 35,106 $ 36,125 $ 34,123 || $ 1,019 $ 7,941 || || Earnings from continuing operations || || plus fixed charges || -------- -------- -------- || ------- ------- || $ 53,306 $ 52,925 $ 61,007 || $ (381) $ 359 || ======== ======== ======== || ======= ======= FIXED CHARGES: || || -------------- || || || || Interest charges, net || 33,117 34,093 32,091 || 976 7,693 Plus interest factor in operating rent expense || 1,989 2,032 2,032 || 43 348 Total fixed charges || -------- -------- -------- || ------- ------- || 35,106 36,125 34,123 || 1,019 7,941 || ======== ======== ======== || ======= ======= Ratio of earnings to fixed charges (excess of fixed || || charges over earnings)(4) || || || 1.5x 1.5x 1.8x || (0.4)x -- || ======== ======== ======== || ======= ======= Pro Forma Pro Forma Full Jan. 1, 2004 Feb. 12, 2004 Full 1st Quarter to Feb. 11, to April 3, 1st Quarter (dollars in thousands) 2003 2004 2003 2004 ----------- ------------ ------------- ----------- EARNINGS: (unaudited) (unaudited) (unaudited) (unaudited) -------- Earnings from continuing operations before provision (benefit) for income taxes $(6,795) $(5,200) $ 148 $(4,788) Fixed Charges $ 8,910 $ 3,878 $5,315 $ 8,989 Earnings from continuing operations plus fixed charges ------- ------- ------ ------- $ 2,116 $(1,322) $5,463 $ 4,201 ======= ======= ====== ======= FIXED CHARGES: -------------- Interest charges, net 8,519 3,694 5,017 8,795 Plus interest factor in operating rent expense 391 194 296 194 Total fixed charges ------- ------- ------ ------- 8,910 3,676 5,315 8,989 ======= ======= ====== ======= Ratio of earnings to fixed charges (excess of fixed charges over earnings)(4) 0.2x (0.3)x 1.0x 0.5x ======= ======= ====== =======