EX-12 2 p73533exv12.htm EX-12 exv12
 

Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
                                                         
                                                    Year  
                                    Six Months Ended     Ended  
    Fiscal Year Ended June 30,     December 31,     Dec. 31,  
    2002     2003     2004     2005     2004     2005     2006  
EARNINGS:
                                                        
Income (loss) before income tax expense
   $ 78,984     $ 77,660     $ 46,157     $ 99,102     $ 32,551     $ 80,223     $ (116,645 )
Add: Fixed charges
     2,967       14,375       13,161       12,993       6,454       6,547       13,026  
 
                                          
Earnings as defined
   $ 81,951     $ 92,035     $ 59,318     $ 112,095     $ 39,005     $ 86,770     $ (103,619 )
 
                                          
 
                                                        
FIXED CHARGES:
                                                        
Interest expense
   $ 1,376     $ 10,038     $ 8,663     $ 8,488     $ 4,244     $ 4,253     $ 8,488  
Amortization of deferred financing fees
     —       2,542       2,145       2,152       1,080       1,080       2,168  
 
                                          
Interest expense as reported
     1,376       12,580       10,808       10,640       5,324       5,333       10,640  
Portion of rent expense as interest
     1,591       1,795       2,353       2,353       1,129       1,214       2,386  
 
                                          
Fixed charges as defined
   $ 2,967     $ 14,375     $ 13,161     $ 12,993     $ 6,453     $ 6,547     $ 13,026  
 
                                          
 
                                                        
Ratio of earnings to fixed charges
     27.6x       6.4x       4.5x       8.6x       6.0x       13.3x       (8.0)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.