EX-12.1 3 ex121forms3072303.txt STATEMENT RE: COMPUTATION OF RATIOS Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIOS Computation of Earnings to Combined Fixed Charges and Preferred Stock Dividends Six Months (thousands of dollars) Year Ended September 30, Ended ------------------------------------------------------------- March 31, 1998 1999 2000 2001 2002 2003 -------- -------- -------- -------- -------- -------- Fixed Charges Computation Interest expensed and capitalized $ 2,220 $ 4,178 $ 3,603 $ 145 $ 417 $ 6,500 Amortized premiums, discounts, and capitalized expenses related to indebtedness 2,046 2,075 3,034 79 136 1,604 Estimate of interest within rental expense 47 131 26 20 72 542 -------- -------- -------- -------- -------- -------- Total Fixed Charges 4,313 6,384 6,663 244 625 8,646 Preferred equity dividends 337 466 378 113 - - -------- -------- -------- -------- -------- -------- Total Fixed Charges and Preferred Equity Dividends $ 4,650 $ 6,850 $ 7,041 $ 357 $ 625 $ 8,646 ======== ======== ======== ======== ======== ======== Earnings Computation Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees $(10,916) $(28,402) $ 8,642 $ 14,468 $ 40,236 $ 24,791 Plus Fixed charges 4,650 6,850 7,041 357 625 8,646 Minus Interest capitalized 1,390 - - - - 36 -------- -------- -------- -------- -------- -------- Total Earnings $ (7,656) $(21,552) $ 15,683 $ 14,825 $ 40,861 $ 33,401 ======== ======== ======== ======== ======== ======== Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends N/A N/A 2.23 41.53 65.38 3.86 Dollar amount of Deficiency $(12,306) $(28,402) N/A N/A N/A N/A