EX-12.1 3 p68792exv12w1.htm EXHIBIT 12.1 exv12w1
 

Exhibit 12.1

Ratios of Earnings to Fixed Charges and Preferred Stock Dividends

                                           
      Years ended November 30
     
(Dollars in thousands)   1999   2000   2001   2002   2003

 
 
 
 
 
Income (Loss) from continuing operations before taxes
  $ (11,966 )   $ 20,289     $ (32,403 )   $ (30,102 )   $ 11,558  
 
   
     
     
     
     
 
Fixed Charges:
                                       
 
Interest
    40,462       38,739       35,406       36,812       36,511  
 
Preferred stock dividends accrued
                            4,169  
 
Interest factor portion of rentals
    1,560       1,440       1,710       1,920       1,650  
 
   
     
     
     
     
 
 
    42,022       40,179       37,116       38,732       42,330  
 
   
     
     
     
     
 
Earnings before income taxes and fixed charges
  $ 30,056     $ 60,468     $ 4,713     $ 8,630     $ 53,888  
Preferred stock accretion and accrued dividends
  $ 10,569     $ 11,848     $ 13,282     $ 14,887     $ 12,274  
Ratio of earnings to fixed charges and preferred stock accretion and accrued dividends
    N/A       1.16x       N/A       N/A       N/A  
Earnings inadequate to cover fixed charges and preferred stock accretion and accrued dividends
  $ 22,535       N/A     $ 45,685     $ 44,989     $ 716  

102