EX-12.1 2 p74301exv12w1.htm EX-12.1 exv12w1
 

Exhibit 12.1
Ratio of Earnings to Fixed Charges
     Set forth below is information concerning our ratio of earnings to fixed charges on a consolidated basis for the periods indicated. This ratio shows the extent to which our business generates enough earnings after the payment of all expenses other than interest to make the required interest payments on our convertible senior subordinated notes.
     For purposes of computing the ratio of earnings to fixed charges, “earnings” consist of income before income taxes and fixed charges. “Fixed charges” consist of interest expense and the portion of rent expense we believe represents the interest component of such rent expense.
                                         
(in thousands, except for ratios)      
    Years ended June 30,  
    2003     2004     2005     2006     2007  
Fixed charges:
                                       
Interest expense
  $ 155     $ 134     $ 1,145     $ 1,939     $ 1,950  
Portion of rent expense deemed to represent interest
    325       358       392       262       344  
 
                             
Total fixed charges
  $ 480     $ 492     $ 1,537     $ 2,201     $ 2,294  
 
                             
 
                                       
Earnings:
                                       
Net income
  $ 7,718     $ 12,992     $ 37,985     $ 13,701     $ 26,534  
Income taxes
    4,344       7,934       20,347       11,822       11,897  
Fixed charges
    480       492       1,537       2,201       2,294  
 
                             
Total earnings for computation of ratio
  $ 12,542     $ 21,418     $ 59,869     $ 27,724     $ 40,725  
 
                             
 
                                       
Ratio of earnings to fixed charges
    26.1       43.5       39.0       12.6       17.8