EX-12.1 6 d311497dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

Computation of Ratio of Earnings to Fixed Charges

(in thousands, except for ratios)

 

     Fiscal Year Ended January 31,  
     2010     2011     2012  

(Loss) income before income taxes

   $ (31,727   $ (21,993   $ 9,862   

Interest expense

     28,446        24,876        25,625   

Amortization and write-off of debt issuance costs

     2,158        1,857        1,361   

Portion of rentals deemed to be interest

     1,822        1,538        1,441   
  

 

 

   

 

 

   

 

 

 

Income available for fixed charges

   $ 699      $ 6,278      $ 38,289   
  

 

 

   

 

 

   

 

 

 

Fixed charges:

      

Interest expense

   $ 28,446      $ 24,876      $ 25,625   

Amortization and write-off of debt issuance costs

     2,158        1,857        1,361   

Portion of rentals deemed to be interest

     1,822        1,538        1,441   
  

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 32,426      $ 28,271      $ 28,427   
  

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     0.0 x        0.2 x        1.3 x   

For purposes of computing the ratio of earnings to fixed charges, earnings consist of (loss) income before income taxes plus fixed charges. Fixed charges consist of (i) interest expense including gains and losses on early extinguishment of debt, (ii) amortization and write-off of debt issuance costs, and (iii) that portion of rental expense we estimate to be representative of interest. Earnings would not have been sufficient to cover fixed charges by $31.7 million and $22.0 million for the fiscal years ended January 31, 2010 and 2011, respectively.