EX-12 3 p70615exv12.htm EX-12 exv12
 

Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)

                                                 
                                            Nine Months  
                                            Ended  
    Fiscal Year Ended June 30,     Mar. 31,  
    2000     2001     2002     2003     2004     2005  
EARNINGS:
                                                
Income before income tax expense
   $ 67,382     $ 59,325     $ 78,984     $ 77,660     $ 46,157     $ 61,716  
Add: Fixed charges
     3,378       2,801       2,967       14,375       13,161       9,711  
 
                                    
Earnings as defined
   $ 70,760     $ 62,126     $ 81,951     $ 92,035     $ 59,318     $ 71,427  
 
                                    
 
                                                
FIXED CHARGES:
                                                
Interest expense
   $ 2,246     $ 1,263     $ 1,376     $ 10,038     $ 8,663     $ 6,366  
Amortization of deferred financing fees
     —       —       —       2,542       2,145       1,616  
 
                                    
Interest expense as reported
     2,246       1,263       1,376       12,580       10,808       7,982  
Portion of rent expense as interest
     1,132       1,538       1,591       1,795       2,353       1,729  
 
                                    
Fixed charges as defined
   $ 3,378     $ 2,801     $ 2,967     $ 14,375     $ 13,161     $ 9,711  
 
                                    
 
                                                
Ratio of earnings to fixed charges
     21.0 x     22.2 x     27.6 x     6.4 x     4.5 x     7.4 x

For purposes of computing the ratios of earnings to fixed charges, earnings represent pretax income from continuing operations plus fixed charges. Fixed charges represent interest expense and the portion of rents representative of interest related to continuing operations.