EX-12.1 3 d573382dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth our ratio of earnings to fixed charges for each of the periods indicated. To date we have not issued any preferred stock. Therefore, the ratio of earnings to combined fixed charges and preferred stock dividend requirements are the same as the ratio of earnings to fixed charges presented below (in thousands except for ratio calculation).

 

     Fiscal Year Ended     Six  Months
Ended
June 30,
2013		  
     December 28,
2008		     January 3,
2010		     January 2,
2011		     January 1,
2012		     December 30,
2012		    

Loss before income taxes

    $ (9,409 )    $ (9,817 )    $ (61 )    $ (7,544 )    $ (12,296 )    $ (6,438 ) 

Add: Fixed charges(1) :

             

Interest expensed

      225        93        67        36        61        29   

Interest on rental expense

      211        194        155        155        164        164   

Preferred dividends

      0        0        0        0        0        0   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total—fixed charges

      436        287        222        191        225        193   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings (losses)

    $ (8,973 )    $ (9,530 )    $ 161      $ (7,353 )    $ (12,071 )    $ (6,245 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges(2)

      —          —          0.73        —          —          —     

 

(1) Fixed charges, which includes interest expense plus the portion of interest expense under operating leases deemed by us to be representative of the interest factor.
(2) Due to our losses in the years ended December 28, 2008, January 3, 2010, January 2, 2011, January 1, 2012 and December 30, 2012 and the six months ended June 30, 2013, the ratio coverage was less than 1:1. Additional earnings of $9.4 million, $9.8 million, $ 61,000, $ 7.5 million and $ 12.3 million in 2008, 2009, 2010, 2011 and 2012, respectively, and $6.4 million in the six months ended June 30, 2013 would have been required to achieve a ratio of 1:1.