EX-12 2 computationofratio.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
(unaudited)
 
 
Year Ended June 30 
 
 
 
2006
 
2005
 
2004
 
2003
 
2002
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense on indebtedness
 
$
42,381
 
$
43,586
 
$
45,324
 
$
45,026
 
$
46,553
 
Amortization of debt issuance costs
 
 
1,487
 
 
1,556
 
 
1,960
 
 
2,500
 
 
2,033
 
Capitalized interest
 
 
1,866
 
 
418
 
 
67
 
 
70
 
 
1,772
 
Interest expense on portion of rent expense representative of interest
 
 
1,159
 
 
1,329
 
 
1,561
 
 
1,759
 
 
1,795
 
Total fixed charges
 
$
46,893
 
$
46,889
 
$
48,912
 
$
49,355
 
$
52,153
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before provision for income taxes
 
$
684
 
$
19,714
 
$
(70,107
)
$
(42,016
)
$
(22,924
)
Fixed charges per above less capitalized interest
 
 
45,027
 
 
46,471
 
 
48,845
 
 
49,285
 
 
50,381
 
Amortization of capitalized interest
 
 
685
 
 
657
 
 
652
 
 
647
 
 
529
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
 
$
46,396
 
$
66,842
 
$
(20,610
)
$
7,916
 
$
27,986
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges*
 
 
  
 
 
1.4x
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Coverage deficiency
 
$
(497
) 
 
 
 
$
(69,522
)
$
(41,439
)
$
(24,167
)
*Earnings were inadequate to cover fixed charges during fiscal years 2006, 2004, 2003 and 2002.