EX-12 2 dex12.htm CALCULATION OF CONSOLIDATED RATIOS OF EARNINGS Calculation of Consolidated Ratios of Earnings

Exhibit 12

Ratio of Earnings to Fixed Charges

In Thousands

 

     Six months ended
December 31, 2009
    Fiscal Year Ended  
       2009     2008     2007     2006     2005  

Earnings, calculated as follows:

            

Add the following:

            

(a) pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees

   3,136      (11,475   (4,797   (7,914   (1,174   6,245   

(b) fixed charges:

            

(i) interest expensed and capitalized

   25      107      36      24      15      —     

(ii) amortized premiums, discounts and capitalized expenses related to indebtedness

   —        —        —        —        —        —     

(iii) an estimate of the interest within rental expense (estimated at 1/3 of rental expense)

   636      1,276      1,156      1,116      837      920   

(iv) preference security dividend requirements of consolidated subsidiaries

   —        —        —        —        —        —     

(c) amortization of capitalized interest

   —        —        —        —        —        —     

(d) distributed income of equity investees

   —        —        —        —        —        —     

(e) your share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges

   —        —        —        —        —        —     
                                    
   3,797      (10,092   (3,605   (6,774   (322   7,165   
                                    

From the total of the added items, subtract the following:

            

(a) interest capitalized,

   —        —        —        —        —        —     

(b) preference security dividend requirements of consolidated subsidiaries, and

   —        —        —        —        —        —     

(c) the minority interest in pre-tax income of subsidiaries that have not incurred ixed charges

   —        —        —        —        —        —     
                                    
   —        —        —        —        —        —     
                                    

Earnings, as calculated

   3,797      (10,092   (3,605   (6,774   (322   7,165   

Fixed Charges (per above)

   661      1,383      1,192      1,140      852      920   

Ratio of Earnings to Fixed Charges

   5.7   n/a      n/a      n/a      n/a      7.8

Dollar amount of Deficiency

   n/a      11,475      4,797      7,914      1,174      n/a   

Estimate of the interest within rental expense

            

Rental Expense

   1,909      3,827      3,467      3,349      2,511      2,761   

Estimate of Interest component of rental expense (%)

   33.3   33.3   33.3   33.3   33.3   33.3

Estimate of the interest within rental expense

   636      1,276      1,156      1,116      837      920