EX-12.1 3 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

 

     Year Ended May 31,
     2009    2008    2007
     ($ in thousands)

Net income

    $26,022    $25,399    $3,854

Plus fixed charges:

         

Interest expense

    1,692    296    272

Debt cost amortization

    470    —      —  

Portion of rents representative of the interest factor

    3,295    2,990    3,379
              

Total fixed charges (1)

    $5,457    $3,286    $3,651

Adjusted earnings (2)

    $31,479    $28,685    $7,505

Ratio (2 divided by 1)

    5.8    8.7    2.1
              

Fixed charges deficiency

    $—      $—      $—