EX-12.1 3 a2160881zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1

CALCULATION OF EARNINGS TO FIXED CHARGES

	Fiscal Year Ended July 31,														Nine Months Ended April 30,
	Restated(A)												Pro Forma		Restated(A)
	2000		2001		2002			2003			2004		2004		2004		2005
Fixed Charges:
Interest Expense	$	13,377	$	12,887	$	12,548		$	16,838		$	11,745	$	3,470	$	11,305	$	1,931
Amortization of capitalized interest		179		205		368			458			289		289		233		133
Amortization of deferred debt issue costs		746		773		1,080			1,696			7,106		1,140		6,044		872
Portion of rent expense representative of interest		19,013		26,260		21,867			24,072			24,172		24,172		18,578		23,753
Total fixed charges	$	33,315	$	40,125	$	35,863		$	43,064		$	43,312	$	29,071	$	36,160	$	26,689
Earnings:
Income (loss) from continuing operations before income/loss from equity investee	$	11,445	$	37,138	$	(19,000	)	$	(29,751	)	$	9,894	$	24,135	$	5,146	$	67,274
Total Fixed Charges		33,315		40,125		35,863			43,064			43,312		29,071		36,160		26,689
Total Earnings	$	44,760	$	77,263	$	16,863		$	13,313		$	53,206	$	53,206	$	41,306	$	93,963
Ratio of Earnings to Fixed Charges		1.34		1.93		(B	)		(B	)		1.23		1.83		1.14		3.52

(A): The historical information in this document has been restated. The effect of this restatement on prior periods is given in more detail in Notes 16 and 18 of Notes to Consolidated Financial Statements included in our Form 10-K for the period ended July 31, 2004 incorporated by reference herein.
(B): Our consolidated ratio of earnings to fixed charges was less than 1.0 for the periods indicated. To achieve a consolidated ratio of earnings to fixed charges of 1.0, we would have had to generate additional earnings of $19,000,000 and $29,751,000 for the fiscal years ended July 31, 2002 and 2003, respectively.