EX-12.1 4 p70284exv12w1.htm EX-12.1 exv12w1
 

Exhibit 12.1

Ratios of Earnings to Fixed Charges and Preferred Stock Dividends

                                         
    Years ended November 30  
(Dollars in thousands)   2000     2001     2002     2003     2004  
Income (Loss) from continuing operations before taxes
  $ 23,458     $ (29,836 )   $ (28,576 )   $ 11,467     $ (65,311 )
 
                             
Fixed Charges:
                                       
     Interest
    35,294       32,386       34,227       34,036       36,706  
     Preferred stock dividends accrued
                      4,169       16,674  
     Interest factor portion of rentals
    1,440       1,710       1,920       1,650       2,100  
 
                             
 
    36,734       34,096       36,147       39,855       55,480  
 
                             
Earnings (loss) before income taxes and fixed charges
  $ 60,192     $ 4,260     $ 7,571     $ 51,322     $ (9,831 )
Preferred stock accretion and accrued dividends
  $ 11,848     $ 13,282     $ 14,887     $ 12,274     $  
Ratio of earnings to fixed charges and preferred stock accretion and accrued dividends
    1.24x       N/A       N/A       N/A       N/A  
Earnings inadequate to cover fixed charges and preferred stock accretion and accrued dividends
    N/A     $ 43,118     $ 43,463     $ 807     $ 65,311