EX-12.1 5 c84722exv12w1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Set forth below are the consolidated ratios of earnings to fixed charges for us for the six month period ended December 31, 2003 and for each of the years in the five-year period ended June 30, 2003.
FOR THE SIX MONTHS ENDED DECEMBER 31, FOR THE YEARS ENDED JUNE 30, ------------ ------------------------------------------------------- 2003 2003 2002 2001 2000 1999 ------ ------- ------- ------- ------- ------- (dollars in thousands) EARNINGS: Income from continuing operations before taxes and minority interest ...... $3,360 $23,706 $35,910 $15,031 $13,399 $10,637 Fixed charges ............................. 6,020 11,750 10,966 13,771 11,023 5,446 ------ ------- ------- ------- ------- ------- Total ........................ $9,380 $35,456 $46,876 $28,802 $24,422 $16,083 ====== ======= ======= ======= ======= ======= FIXED CHARGES: Interest .................................. $5,205 $10,325 $ 9,870 $12,645 $10,259 $ 4,969 Amortization of debt issuance costs ....... 815 1,425 1,096 1,126 764 477 ------ ------- ------- ------- ------- ------- Total ........................ $6,020 $11,750 $10,966 $13,771 $11,023 $ 5,446 ====== ======= ======= ======= ======= ======= RATIO OF EARNINGS TO FIXED CHARGES: Actual .................................... 1.56 3.02 4.27 2.09 2.22 2.95
The ratio of earnings to fixed charges is calculated by dividing the sum of income from continuing operations before taxes and minority interest and fixed charges by the total fixed charges. Fixed charges consist of interest expense, amortization of debt issuance costs and 20% (the amount deemed to represent an appropriate interest factor) of net rent expense under lease commitments.