EXHIBIT 12.1
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XXXXXX HEALTH PRODUCTS INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
FISCAL YEARS ENDED MARCH 31,
1994 1995 1996 1997(1) 1998
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Net income (loss) $ 3,417 $ 3,813 $ 1,166 $ 7,638 ($17,417)
Extraordinary item - - - 2,756 1,109
Income taxes 3,573 3,524 4,686 8,028 1,196
Fixed charges 8,627 10,863 11,484 9,866 21,306
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Earnings $ 15,617 $ 18,200 $ 17,336 $ 28,288 $ 6,194
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Fixed charges:
Interest expense $ 7,144 $ 9,010 $ 9,924 $ 8,281 $ 19,494
Interest portion of rent expense 1,483 1,853 1,560 1,585 1,748
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Total fixed charges $ 8,627 $ 10,863 $ 11,484 $ 9,866 $ 21,242
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Ratio of earnings to fixed charges (2) 1.8 1.7 1.5 2.9 --
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(1) On January 30, 1997, the Company purchased Vita Health. The Vita Health
acquisition was accounted for under the purchase method of accounting.
Consequently, the results of operations of Vita Health were included in the
consolidated financial results of the Company for the two months ended
March 31, 1997.
(2) In calculating the ratio of earnings to fixed charges, earnings consist of
income before taxes plus fixed charges. Fixed charges consist of interest
expense and amortization of deferred financing fees, whether capitalized or
expensed, plus one-third of rental expense under operating leases (the
portion that has been deemed by the Company to be representative of an
interest factor). Earnings were inadequate to cover fixed charges by
$15.0 million for the year ended March 31, 1998.
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