EX-12 2 ex12q033104.txt COMPUTATION OF RATIO OF EARNINGS Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends Six Months Ended (thousands of dollars) Year Ended September 30, March 31 ---------------------------------------------------------------- --------------- 1999 2000 2001 2002 2003 2004 -------------------------------------------------------------------------------- Fixed Charges Computation Interest expensed and capitalized $ 4,178 $ 3,603 $ 145 $ 417 $ 12,060 $ 3,993 Amortized premiums, discounts, and capitalized expenses related to indebtedness 2,075 3,034 79 136 3,857 7,631 Reasonable approximation of interest within rental expense 131 26 20 72 1,139 599 -------------------------------------------------------------------------------- Total Fixed Charges 6,384 6,663 244 625 17,056 12,223 Preferred equity dividends 466 378 113 - - - -------------------------------------------------------------------------------- Total Fixed Charges and Preferred Equity Dividends $ 6,850 $ 7,041 $ 357 $ 625 $ 17,056 $ 12,223 ================================================================================ Earnings Computation Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees $(28,402) $ 8,642 $ 14,468 $ 40,236 $ 60,081 $ 46,689 Plus Fixed charges 6,850 7,041 357 625 17,056 12,223 Minus Interest capitalized - - - - 230 274 -------------------------------------------------------------------------------- Total Earnings $(21,552) $ 15,683 $ 14,825 $ 40,861 $ 76,907 $ 58,638 ================================================================================ Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends N/A 2.23 41.53 65.38 4.51 4.80 Dollar amount of Deficiency $(28,402) N/A N/A N/A N/A N/A