EX-12.01 4 a2130709zex-12_01.htm EXHIBIT 12.01

Exhibit 12.01

Statement Regarding Computation of Ratios (in thousands, except ratios)

        The financial information provided in the table below should read be in conjunction with our consolidated financial statements and the related notes incorporated by reference into the prospectus contained within the Registration Statement on Form S-3 of which this Exhibit 12.01 forms a part.

 
  Year Ended March 31,
   
 
 
  Nine Months Ended,
December 31,
2003

 
 
  1999
  2000
  2001
  2002
  2003
 
Fixed charges:                                      
  Interest expense, including amortization of debt expense   $ 12,103   $ 11,577   $ 11,852   $ 3,387   $ 16,422   $ 8,010  
  Portion of rent deemed to be interest     1,233     433     1,033     1,000     1,047     666  
   
 
 
 
 
 
 
  Total fixed charges     13,336     12,010     12,885     14,387     17,469     8,676  
Earnings (loss):                                      
  Income (loss) from continuing operations before income taxes     11,893     237,356     114,794     (189,160 )   (17,694 )   38,770  
  Fixed charges per above     13,336     12,010     12,885     14,387     17,469     8,676  
   
 
 
 
 
 
 
  Total earnings (loss)   $ 25,229   $ 249,366   $ 127,679   $ (174,773 ) $ (225 ) $ 47,446  
Ratio of earnings to fixed charges(1)     1.89 x   20.76 x   9.91 x           5.47 x
Deficiency of earnings available to cover fixed charges               $ 189,160   $ 17,694      

(1)
For the purposes of computing the ratio of earnings to fixed charges, earnings consist of income (loss) from continuing operations before income taxes plus fixed charges. Fixed charges consist of interest expense, amortization of debt issuance costs and that portion of rental expense we estimate to be representative of interest. Earnings, as defined, were not sufficient to cover fixed charges by $189,160 for the fiscal year ended March 31, 2002 and $17,694 for the fiscal year ended March 31, 2003.

        The following computation of pro forma ratio of earnings to fixed charges for the nine months ended December 31, 2003 reflects the use of a portion of the proceeds of the issuance of our 3/4% Convertible Senior Notes to repurchase approximately $124.2 million of our 3% Convertible Subordinated Notes, as if the repurchase occurred at the beginning of the period. No pro forma ratio of earnings to fixed charges has been presented for the year ended March 31, 2003 due to the deficiency of earnings to cover fixed charges.

COMPUTATION OF PRO FORMA RATIO OF EARNINGS
TO FIXED CHARGES FOR THE NINE MONTHS ENDED DECEMBER 31, 2003
AFTER ADJUSTMENT FOR ISSUANCE OF 3/4% NOTES

Income (loss) from continuing operations before income taxes plus fixed charges   $ 47,446  
   
 

Fixed charges, as above

 

 

8,676

 
Adjustments:        
  Estimated net decrease in interest expense from refinancing     (2,096 )
   
 
  Total pro forma fixed charges   $ 6,580  

Pro forma ratio of earnings to fixed charges

 

 

7.21

x