EX-12.1 4 f30418orexv12w1.htm EXHIBIT 12.1 exv12w1
 

Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
                                                   
    Quarter                              
    Ended                     Year Ended        
    January 27,     October 28,   October   October 30,   October 25,   October
    2007     2006   29, 2005   2004(2)   2003(2)   26, 2002
Fixed Charges
                                                  
Interest expensed or capitalized
     7,456         5,652       6,328       8,747       10,899       9,326  
Amortized premiums, discounts or capitalized expenses related to indebtedness
     (4 )       1,430       1,365       1,930       2,439       2,101  
Interest within rental expense
     978         3,616       3,578       3,722       7,579       6,679  
 
                                                  
Total Fixed Charges
     8,430         10,698       11,271       14,399       20,917       18,106  
 
                                                  
Earnings
                                                  
Pretax income from continuing operations
     39,413         98,352       55,198       (19,624 )     (134,697 )     111,378  
 
                                                  
Fixed charges
     8,430         10,698       11,271       14,399       20,917       18,106  
 
                                                  
 
                                                  
Total Earnings
     47,843         109,050       66,469       (5,225 )     (113,780 )     129,484  
 
                                                  
Ratio of Earnings to Fixed Charges (1)
     5.7x         10.2x       5.9x       —       —       7.2x  
Coverage Deficiency
     —         —       —       19,624       134,697       —  
 
 
(1) The ratio of earnings to fixed charges was computed by dividing earnings (loss) from continuing operations before taxes by fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include (i) interest expense and amortization of debt discount and issuance costs on all indebtedness, and (ii) one-third of all rental expense, which the Company considers to be a reasonable approximation of the interest factor included in rental expense.
 
(2) Earnings were inadequate to cover fixed charges. For the years ended October 30, 2004 and October 25, 2003, the Company needed additional earnings of $19.6 million and $134.7 million, respectively, to achieve a ratio of earnings to fixed charges of 1.0x.