EX-12 4 p71182exv12.htm EXHIBIT 12 exv12
 

Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
                                         
    Fiscal Year Ended June 30,  
    2001     2002     2003     2004     2005  
EARNINGS:
                                        
Income before income tax expense
   $ 59,325     $ 78,984     $ 77,660     $ 46,157     $ 99,102  
Add: Fixed charges
     2,801       2,967       14,375       13,161       12,993  
 
                              
Earnings as defined
   $ 62,126     $ 81,951     $ 92,035     $ 59,318     $ 112,095  
 
                              
 
                                        
FIXED CHARGES:
                                        
Interest expense
   $ 1,263     $ 1,376     $ 10,038     $ 8,663     $ 8,488  
Amortization of deferred financing fees
     —       —       2,542       2,145       2,152  
 
                              
Interest expense as reported
     1,263       1,376       12,580       10,808       10,640  
Portion of rent expense as interest
     1,538       1,591       1,795       2,353       2,353  
 
                              
Fixed charges as defined
   $ 2,801     $ 2,967     $ 14,375     $ 13,161     $ 12,993  
 
                              
 
                                        
Ratio of earnings to fixed charges
     22.2x       27.6x       6.4x       4.5x       8.6x  
     For purposes of computing the ratios of earnings to fixed charges, earnings represent pretax income from continuing operations plus fixed charges. Fixed charges represent interest expense and the portion of rents representative of interest related to continuing operations.