EX-12.1 7 j1753001exv12w1.htm EXHIBIT 12.1 Exhibit 12.1
 

Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charge Calculation
(dollars in thousands)
                         
    Fiscal Year Ended September 30,  
    2003     2004     2005  
Pre-tax income (loss) from continuing operations
    (9,147 )(1)     16,979       16,167  
 
                       
Fixed charges:
                       
Interest expense + Amortization of deferred financing from continuing operations
    36,171       31,347       29,828  
Interest expense from discontinued operations
    3,036              
Interest factor of rental expense
    10,012       8,148       8,948  
 
                 
Total fixed charges
    49,219       39,495       38,776  
 
                       
Pre-tax income (loss) from continuing operations plus fixed charges
    40,072       56,474       54,943  
 
                       
Ratio of Earnings to Fixed Charge
    N/A (2)     1.4       1.4  
 
(1)   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.
 
(2)   In 2003 the ratio coverage was less than 1:1. The Company must generate additional earnings of $9,147 to achieve a coverage ratio of 1:1.