EX-12.1 5 a2121313zex-12_1.htm EX-12.1
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Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES(1)

 
 

Years Ended October 31,

   
 

Years Ended December 31,

   
 
 
   
  Six Months
Ended
June 30,
2003

 
 
  Two Months Ended
December 31,
2000(2)

 
 
  1998(2)
  1999(2)
  2000(2)
  2001(2)
  2002(2)
 
Income (loss) before income tax expense   $ (15,559 ) 556   (29,058 ) (5,265 ) 1,205   12,857   37,293  
Add minority interest in consolidated subsidiaries that have fixed charges                         359   450  

Add fixed charges

 

$

18,557

 

18,895

 

34,248

 

9,363

 

54,010

 

48,565

 

14,265

 
   
 
 
 
 
 
 
 
Earnings   $ 2,998   19,451   5,190   4,098   55,215   61,781   52,008  
   
 
 
 
 
 
 
 
Fixed Charges:                                
1/3 Rent   $ 3,036   2,718   3,017   573   3,647   3,723   1,861  
Interest   $ 15,521   16,177   31,231   8,790   50,363   44,842   12,404  
   
 
 
 
 
 
 
 
  Total Fixed Charges   $ 18,557   18,895   34,248   9,363   54,010   48,565   14,265  
   
 
 
 
 
 
 
 
Ratio of Fixed Charges       1.0 x     1.0 x 1.3 x 3.6 x
Earnings shortfall   $ 15,559       29,058   5,265              

(1)
For the purpose of determining the ratio of earnings to fixed charges, "Earnings" consist of earnings (loss) before income tax expense (benefit) plus fixed charges. "Fixed Charges" consist of interest expense, including amortization of deferred financing costs, plus one-third of rental expense (this portion is considered to be representative of the interest factor). For the years ended October 31, 1998, October 31, 2000 and the two months ended December 31, 2000, earnings were insufficient to cover fixed charges by $15,559, $29,058 and $5,265, respectively.

(2)
Certain reclassifications have been made to the prior years consolidated financial statements to conform to the current presentation. In accordance with the adoption of SFAS 145 in the year 2003, amounts previously classified as extraordinary items and the related tax benefits have been reclassified to Income (loss) before income tax expense.



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STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)