EX-12.1 4 d11435exv12w1.htm EX-12.1 STATEMENTS RE: COMPUTATION OF RATIOS exv12w1
 

Exhibit 12.1

                                                     
        Three Months                                        
        Ended   Year Ended June 30,
        September 30,  
        2003   2003   2002   2001   2000   1999
       
 
 
 
 
 
Earnings:
                                                
 
Income (loss) before income taxes
     1,883,046       8,637,078       3,927,588       1,161,528       4,033,717       (8,808,173 )
 
Adjustments:
                                                
   
Interest expense
     29,277       126,968       124,672       24,234       116,542       —  
   
Portion of rental expense representative of interest
     8,237       38,929       36,040       36,963       53,041       48,577  
 
 
    
     
     
     
     
     
 
 
     1,920,560       8,802,975       4,088,300       1,222,725       4,203,300       (8,759,596 )
 
 
    
     
     
     
     
     
 
Fixed Charges:
                                                
   
Interest expense (A)
     29,277       126,968       124,672       24,234       116,542       —  
   
Portion of rental expense representative of interest
     8,237       38,929       36,040       36,963       53,041       48,577  
 
 
    
     
     
     
     
     
 
 
     37,514       165,897       160,712       61,197       169,583       48,577  
 
 
    
     
     
     
     
     
 
Ratio of earnings to fixed charges
     51.20       53.06       25.44       19.98       24.79       (B )
 
 
    
     
     
     
     
     
 

(A)  Includes interest expense and amortization of debt issuance costs.

(B)  Due to the registrant’s loss before income taxes in fiscal 1999, the ratio coverage was less than 1:1 Additional income before income taxes of $8,808,173 would have been required to achieve a coverage ratio of 1:1