EX-12.1 3 ex12_1.htm EXHIBIT 12.1

EXHIBIT 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
   
 
   
Three Months Ended
 
 
 
Fiscal year ended March 31,
   
June 30,
   
June 30,
 
 
 
2009
   
2010
   
2011
   
2012
   
2013
   
2012
   
2013
 
 
 
(in millions)
 
Earnings:
 
 
   
 
   
 
   
 
   
 
   
 
   
 
 
(Loss) Income before income taxes
 
$
(58.1
)
 
$
(12.8
)
 
$
5.1
   
$
32.8
   
$
42.6
   
$
10.2
   
$
10.0
 
Fixed charges:
                                                       
Interest expense from continuing operations
   
12.7
     
12.6
     
13.2
     
13.5
     
13.2
     
3.3
     
3.2
 
Interest expense from discontinued operations
   
0.2
     
-
     
-
     
-
     
-
     
-
     
-
 
Amortization of deferred financing and bond discount
   
0.5
     
0.6
     
0.3
     
0.7
     
0.6
     
0.2
     
0.2
 
Interest portion of rental expense
   
1.9
     
1.8
     
1.7
     
1.5
     
1.3
     
0.3
     
0.3
 
Total Earnings
 
$
(42.8
)
 
$
2.2
   
$
20.3
   
$
48.5
   
$
57.7
   
$
14.0
   
$
13.7
 
 
                                                       
Fixed charges:
                                                       
Interest expense from continuing operations
 
$
12.7
   
$
12.6
   
$
13.2
   
$
13.5
   
$
13.2
   
$
3.3
   
$
3.2
 
Interest expense from discontinued operations
   
0.2
     
-
     
-
     
-
     
-
     
-
     
-
 
Amortization of deferred financing and bond discount
   
0.5
     
0.6
     
0.3
     
0.7
     
0.6
     
0.2
     
0.2
 
Interest portion of rental expense
   
1.9
     
1.8
     
1.7
     
1.5
     
1.3
     
0.3
     
0.3
 
Total Fixed charges
 
$
15.3
   
$
15.0
   
$
15.2
   
$
15.7
   
$
15.1
   
$
3.8
   
$
3.7
 
 
                                                       
Ratio of earnings to fixed charges
 
(a)
   
(a)
     
1.3
     
3.1
     
3.8
     
3.7
     
3.7
 
 
(a)
For the years ended March 31, 2009 and 2010 earnings were insufficient to cover fixed charges by approximately $58.1 million and $12.8 million, respectively.