Exhibit 12.1
VOXX International Corporation
Computation of Ratios of Earnings to Fixed Charges
(unaudited)
(dollars in thousands)
Year Ended | Nine Months Ended | |||||||||||||||||||||||
Feb 29, 2008 | Feb 28, 2009 | Feb 28, 2010 | Feb 28, 2011 | Feb 29, 2012 | Nov 30, 2012 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes and discontinued operations | $ | 8,724 | $ | (55,849 | ) | $ | 11,697 | $ | 11,004 | $ | 36,763 | $ | 15,908 | |||||||||||
Fixed charges | 2,509 | 2,022 | 1,667 | 2,851 | 5,866 | 6,327 | ||||||||||||||||||
Earnings | $ | 11,233 | $ | (53,827 | ) | $ | 13,364 | $ | 13,855 | $ | 42,629 | $ | 22,235 | |||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest charged to expense | $ | 2,127 | $ | 1,817 | $ | 1,556 | $ | 2,630 | $ | 4,950 | $ | 5,316 | ||||||||||||
Portions of rents representing interest | 382 | 205 | 111 | 221 | 236 | 104 | ||||||||||||||||||
Amortization of capitalized expenses related to indebtedness | — | — | — | — | 680 | 907 | ||||||||||||||||||
Total fixed charges (a) | $ | 2,509 | $ | 2,022 | $ | 1,667 | $ | 2,851 | $ | 5,866 | $ | 6,327 | ||||||||||||
Ratio of earnings to fixed charges | 4.48 | x | n/a | 8.02 | x | 4.86 | x | 7.27 | x | 3.51 | x | |||||||||||||
Amount by which earnings are inadequate to cover fixed charges | n/a | $ | 51,805 | n/a | n/a | n/a | n/a |
(a) | The Company had no capitalized interest in any of the years or periods presented. |