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EXHIBIT 12
EMERSON RADIO CORP. AND SUBSIDIARIES
EXHIBIT TO FORM 10-K
COMPUTATION OF RATIO OF EARNINGS (LOSS) TO COMBINED FIXED
CHARGES AND PREFERRED STOCK DIVIDENDS
(In thousands, except ratio data)
<TABLE>
<CAPTION>
Historical
-------------- --- -------------- --- ------------ --- ------------ --- -----------------
Year Year Year Year Year
Ended Ended Ended Ended Ended
Mar. 31, Apr. 2, Apr. 3, Mar. 31, Mar. 31,
2000 1999 1998 1997 1996
-------------- -------------- -------------- ------------- ---------------
<S> <C> <C> <C> <C> <C>
Pretax earnings (loss) $ 3,043 $ 496 $ (1,176) $ (23,738) $ (13,363)
Fixed charges:
Interest 1,932 1,925 1,833 2,789 2,788
Amortization of debt expenses 352 347 677 640 487
Lease expense 1,316 1,305 1,570 1,790 1,716
-------------- -------------- -------------- ------------- ---------------
3,600 3,577 4,080 5,219 4,991
-------------- -------------- -------------- ------------- ---------------
Pretax earnings (loss) before
fixed charges $ 6,643 $ 4,073 $ 2,904 $ (18,519) $ (8,372)
============== ============== ============== ============= ===============
Fixed charges:
Interest $ 1,932 $ 1,925 $ 1,833 $ 2,789 $ 2,788
Amortization of debt expenses 352 347 677 640 487
Lease expense 1,316 1,305 1,570 1,790 1,716
Preferred stock dividend
requirements 103 171 400 700 700
-------------- -------------- -------------- ------------- ---------------
$ 3,703 $ 3,748 $ 4,480 $ 5,919 $ 5,691
============== ============== ============== ============= ===============
Ratio of earnings (loss) to
combined fixed charges and
preferred stock dividends 1.79 1.09 .65 (3.13) (1.47)
============== ============== ============== ============= ===============
Coverage deficiency -- -- $ 1,576 $ 4,129 $ 3,975
============== ============== ============== ============= ===============
</TABLE>
(a) The preferred stock dividend requirements have been adjusted to reflect the
pretax earnings which would be required to cover such dividend
requirements.
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