EX-12.1 12 f83290exv12w1.txt EXHIBIT 12.1 Exhibit 12.1 Statement of Computation of Ratio of Earnings to Fixed Charges (in thousands, except ratios)
Nine Months Ended Fiscal Year Ended --------------------- ------------------------------------------------------------- July 27, July 28, Oct. 27, Oct. 28, Oct. 31, Oct. 31, Oct. 31, 2002 2001 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- -------- -------- Earnings (loss) from continuing operations before taxes $ 61,967 $ 80,755 $ 17,802 $ 88,316 $ 2,591 $(15,111) $ (9,619) Fixed charges from continuing operations Interest expense and amortization of debt discount and issuance costs on all indebtedness 8,057 -- -- 45 459 557 351 Interest included in rent 4,838 4,277 5,507 1,381 428 268 165 -------- -------- -------- -------- -------- -------- -------- Total fixed charges from continuing operations 12,895 4,277 5,507 1,426 887 825 516 -------- -------- -------- -------- -------- -------- -------- Earnings (loss) before taxes and fixed charges $ 74,862 $ 85,032 $ 23,309 $ 89,742 $ 3,478 $(14,286) $ (9,103) ======== ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges(1) 5.8x 19.9x 4.2x 62.9x 3.9x (17.3x)(2) (17.6x)(2) Coverage deficiency $ -- $ -- $ -- $ -- $ -- $ 15,111 $ 9,619 -------- -------- -------- -------- -------- -------- --------
(1) The ratio of earnings to fixed charges was computed by dividing earnings (loss) from continuing operations before taxes by fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include (i) interest expense and amortization of debt discount and issuance costs on all indebtedness, and (ii) one-third of all rental expense, which the Company considers to be a reasonable approximation of the interest factor included in rental expense. (2) Earnings were inadequate to cover fixed charges. For the years ended October 31, 1998 and October 31, 1997, the Company needed additional earnings of $15.1 million and $9.6 million, respectively, to achieve a ratio of earnings to fixed charges of 1.0x.