EX-12 3 dex12.htm RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK Ratio of earnings to fixed charges and preferred stock

EXHIBIT 12

 

 

Ratio of Earnings to Fixed Charges and Preferred Stock

(amounts in thousands)

 

     As of the Year Ended September 30  
     2005    2004
(Restated)		    2003
(Restated)		    2002     2001  

Income from Continuing Operations Before Income Taxes

    $63,179    $42,302    $20,633    $13,070     $101,392  

Minority Interest (Income) Expense

    —    43    12    (316 )   (2,422 )

Loss from Equity Investments

    —    —    —    134     618  

Fixed Charges

    23,241    22,115    16,812    8,824     11,518  
    
  
  
 

Adjusted Earnings

    86,420    64,460    37,457    21,712     111,106  

Fixed Charges

                            

Interest Expense

    14,912    14,868    5,675    5,079     7,413  

Rent Expense (1)

    8,097    6,540    4,678    3,745     3,745  

Preferred Stock Dividends

    232    707    6,459    —        
    
  
  
 

Fixed Charges

    $23,241    $22,115    $16,812    $8,824     $11,158  

Ratio of Earnings to Fixed Charges

    3.7    2.9    2.2    2.5     10.0  

 

1) One-third of total rent expense is estimated by Andrew to be a conservative estimate of the interest component of rent expense.