EX-12.1 7 v169440_ex12-1.htm Unassociated Document
     
     Exhibit 12.1
 
RATIO OF EARNINGS TO FIXED CHARGES
 
The following table sets forth our ratio of earnings to fixed charges for the periods indicated on a consolidated historical basis.
 
   
Three Months
Ended
September 30,
   
Year Ended June 30,
 
   
2009
   
2009
   
2008
   
2007
 
         
(Unaudited)
 
Ratio of Earnings (Loss) to Fixed Charges
                1.45 x     1.70 x
 
For purposes of computing the ratio of earnings (loss) to fixed charges, earnings (loss) is defined as pre-tax income (loss) plus fixed charges. Fixed charges consist of interest expense and amortization of deferred financing fees. For the three months ended September 30, 2009 and for the year ended June 30, 2009 earnings were inadequate to cover fixed charges and therefore have not been presented for these periods. The coverage deficiency necessary for the ratio of earnings to fixed charges to equal 1.00x (one-to-one coverage) was $6.6 million for the three months ended September 30, 2009 and $604.2 million for the year ended June 30, 2009.
 
     
Three Months
Ended
September 30,
   
Year Ended June 30,
                                                                                                            
   
2009
     
2009
     
2008
     
2007
 
           
(Dollars in Thousands) (Unaudited)
Earnings (Loss):
  
     
  
   
  
  
   
  
  
   
  
Pre-Tax Income (Loss)
 
$
(6,634
)
 
$
(604,213
)
 
$
46,233
   
$
42,313
 
Fixed Charges
   
24,101
     
94,019
     
101,655
     
60,303
 
Total Earnings (Loss)
   
17,467
     
(510,194
)
   
147,888
     
102,616
 
Fixed Charges:
                               
Interest Expense
   
22,983
     
88,774
     
97,469
     
53,258
 
Deferred Financing Fees
   
1,118
     
5,245
     
4,186
     
7,045
 
Total Fixed Charges
   
24,101
     
94,019
     
101,655
     
60,303
 
Ratio of Earnings (Loss) to Fixed Charges
   
     
     
1.45
     
1.70