EX-12 5 j9927201exv12.txt EXHIBIT 12 . . . Exhibit 12 CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS)
SIX MONTHS ENDED YEAR ENDED JULY 31, JANUARY 31, ------------------------------------------------------------------ ----------------------- 1998 1999 2000 2001 2002 2002 2003 --------- --------- --------- --------- --------- --------- --------- EARNINGS Income before cumulative effect of change in accounting principle $ 46,510 $ 61,271 $ 60,507 $ 34,206 $ 12,878 $ 3,700 $ 4,555 Income tax provision 23,960 29,745 35,536 20,091 6,343 1,823 2,144 --------- --------- --------- --------- --------- --------- --------- Earnings 70,470 91,016 96,043 54,297 19,221 5,523 6,699 --------- --------- --------- --------- --------- --------- --------- FIXED CHARGES Interest expense 254 1,772 21,169 22,195 16,255 8,365 11,576 Portion of rental expense representative of interest factor 701 705 1,113 2,082 3,030 1,443 1,327 --------- --------- --------- --------- --------- --------- --------- Fixed charges 955 2,477 22,282 24,277 19,285 9,808 12,903 --------- --------- --------- --------- --------- --------- --------- CAPITALIZED INTEREST -- -- (580) -- -- -- -- --------- --------- --------- --------- --------- --------- --------- EARNINGS BEFORE INCOME TAX PROVISION AND FIXED CHARGES $ 71,425 $ 93,493 $ 117,745 $ 78,574 $ 38,506 $ 15,331 $ 19,602 ========= ========= ========= ========= ========= ========= ========= RATIO OF EARNINGS TO FIXED CHARGES 74.8x 37.7x 5.3x 3.2x 2.0x 1.6x 1.5x ========= ========= ========= ========= ========= ========= =========