EX-12 4 exhibit12.htm EXHIBIT 12 FOR FY04 10-K

Computation of Ratio of Earnings to Fixed Charge Calculation
Exhibit 12.1
(dollars in thousands)

Fiscal Year Ended September 30,
2002
2003
2004
Pre-tax income (loss) from continuing operations      (18,350 )        (9,557 ) (2)      17,081  
Fixed charges:  
Interest expense + Amortization of deferred financing from continuing operations    44,440        36,171        31,347  
Interest expense from discontinued operations    8,587        3,036      



Interest factor of rental expense (1)    11,323        10,197        8,274  
Total fixed charges    64,350        49,404        39,621  
Pre-tax income (loss) from continuing operations plus fixed charges    46,000        39,847        56,702  
Ratio of Earnings to Fixed Charge    N/A   (1)    N/A   (3)    1.4  

(1) In 2002 the ratio coverage was less than 1:1. The Company must generate additional earnings of $18,350 to achieve a coverage ratio of 1:1.
(2) Included in earnings for 2003 was a nonrecurring loss of $14,000 before income taxes relating to the settlement of class action securities litigation stemming from accounting irregularities discovered in October 2000. If this settlement had not occurred, the coverage ratio would have been 1.1:1.
(3) In 2003 the ratio coverage was less than 1:1. The Company must generate additional earnings of $9,557 to achieve a coverage ratio of 1:1.