EX-12.1 4 d443938dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

Computation of Ratio to Earnings to Fixed Charges

(in thousands, except for ratios)

 

     Fiscal Year Ended January 31,  
     2013     2012      2011  

(Loss) income before income taxes

   $ (1,498   $ 9,862       $ (21,704

Interest expense

     26,674        25,625         24,344   

Amortization and write-off of debt issuance costs

     2,221        1,361         1,857   

Portion of rentals deemed to be interest

     480        1,441         1,538   
  

 

 

   

 

 

    

 

 

 

Income Available for fixed charges

   $ 27,877      $ 38,289       $ 6,035   
  

 

 

   

 

 

    

 

 

 

Fixed charges:

       

Interest expense

   $ 26,674      $ 25,625       $ 24,344   

Amortization and write-off of debt issuance costs

     2,221        1,361         1,857   

Portion of rentals deemed to be interest

     480        1,441         1,538   
  

 

 

   

 

 

    

 

 

 

Total fixed charges

   $ 29,375      $ 28,427       $ 27,739   
  

 

 

   

 

 

    

 

 

 

Ratio of earnings to fixed charges (times)

     0.9        1.3         0.2   

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) interst expense, including gains and losses on early extinguishment of debt, (ii) amortization and write-off of debt issuance costs, and (iii) the portion of rental expense we estimate to be representative of interest. Earnings would not have been sufficient to cover fixed charges by $1.5 million and $21.7 million for the fiscal years ended January 31, 2013 and 2011, respectively.