EX-12.1 4 dex121.htm STATEMENT OF COMPUTATION Prepared by R.R. Donnelley Financial -- Statement of Computation
Exhibit 12.1
 
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
 
    
Six Months Ended
     
Fiscal Year Ended
  
    
Apr. 27, 2002
     
Apr. 28, 2001
     
Oct. 27, 2001
     
Oct. 28, 2000
     
Oct. 31, 1999
     
Oct. 31, 1998
     
Oct. 31, 1997
  
Earnings (loss) from continuing operations before taxes
   
$
36,138
 
   
$
63,547
 
   
$
17,802
 
   
$
88,316
 
   
$
2,591
 
   
$
(15,111
)
   
$
(9,619
)
Fixed charges from continuing operations
                                                               
Interest expense and amortization of debt discount and issuance costs on all indebtedness
   
 
4,670
 
   
 
—
 
   
 
—
 
   
 
45
 
   
 
459
 
   
 
557
 
   
 
351
 
Interest included in rent
   
 
3,310
 
   
 
3,058
 
   
 
5,507
 
   
 
1,381
 
   
 
428
 
   
 
268
 
   
 
165
 
    
  
  
  
  
  
  
Total fixed charges from continuing operations
   
 
7,980
 
   
 
3,058
 
   
 
5,507
 
   
 
1,426
 
   
 
887
 
   
 
825
 
   
 
516
 
    
  
  
  
  
  
  
Earnings before taxes and fixed charges
   
$
44,118
 
   
$
66,605
 
   
$
23,309
 
   
$
89,742
 
   
$
3,478
 
   
$
(14,286
)
   
$
(9,103
)
    
  
  
  
  
  
  
Ratio of earnings to fixed charges (1)
   
 
5.5
x
   
 
21.8
x
   
 
4.2
x
   
 
62.9
x
   
 
3.9
x
   
 
(17.3
x)(2)
   
 
(17.6
x)(2)
Coverage deficiency
   
$
—
 
   
$
—
 
   
$
—
 
   
$
—
 
   
$
—
 
   
$
15,111
 
   
$
9,619
 
    
  
  
  
  
  
  
(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 31, 1998 and October 31, 1997, the Company needed additional earnings of $15.1 million and $9.6 million, respectively, to achieve a ratio of earnings to fixed charges of 1.0x.