EX-12.1 5 v200872_ex12-1.htm Unassociated Document
Exhibit 12.1
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratios)
                                     
   
Predecessor
   
Successor
 
                                     
   
Period
   
Period
                         
   
July 1,
   
August 15,
                         
   
2007
   
2007
               
Three months
   
Three months
 
   
to
   
to
   
Year Ended
   
Year Ended
   
Ended
   
Ended
 
   
August 14,
   
June 30,
   
June 30,
   
June 30,
   
September 30,
   
September 30,
 
   
2007
   
2008
   
2009
   
2010
   
2009
   
2010
 
                                     
Earnings:
                                   
Income (loss) from continuing operations
                                   
   before income taxes
  $ (21,239 )   $ (139,531 )   $ (92,020 )   $ (11,449 )   $ (26,708 )   $ (18,064 )
Add:  fixed charges
    584       76,810       86,277       86,713       21,654       22,015  
Total adjusted earnings (loss)
  $ (20,655 )   $ (62,721 )   $ (5,743 )   $ 75,264     $ (5,054 )   $ 3,951  
                                                 
Fixed Charges:
                                               
Interest expense
  $ 58     $ 71,144     $ 79,052     $ 79,177     $ 19,846     $ 20,045  
Amortization of deferred financing costs
    217       3,514       4,771       4,771       1,193       1,193  
Rentals at computed interest factor (1)
    309       2,152       2,454       2,765       615       777  
Total fixed charges
  $ 584     $ 76,810     $ 86,277     $ 86,713     $ 21,654     $ 22,015  
                                                 
Ratio of Earnings to Fixed Charges*
    *       *       *       0.9x       *       0.2x  
                                                 

(1)  Amounts represent one-third of rent expense, which we believe to be representative of the interest factored in these rentals.

*The deficit of earnings to fixed charges was $21.2 million for the period July 1, 2007 through August 14, 2007, $139.5 million for the period August 15, 2007 through June 30, 2008, $92.0 million for the year ended June 30, 2009, $11.4 million for the year ended June 30, 2010 and $26.7 million and $18.1 million, respectively, for the three months ended September 30, 2009 and 2010.
  .