EX-12.1 2 computionofratio.htm COMPUTATION OF RATIO OF EARNINGS computionofratio.htm
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
(unaudited)
   
Year Ended June 30
 
   
2008
   
2007
   
2006
   
2005
   
2004
 
Fixed charges:
                             
 Interest expense on indebtedness
  $ 32,469     $ 37,853     $ 42,381     $ 43,586     $ 45,324  
 Amortization of debt issuance costs
    1,088       1,300       1,487       1,556       1,960  
Capitalized interest
    631       269       1,866       418       67  
Interest expense on portion of rent expense
representative of interest 
    902       760       1,159       1,329       1,561  
Total fixed charges
  $ 35,090     $ 40,182     $ 46,893     $ 46,889     $ 48,912  
                                         
Earnings:
                                       
Net income (loss) before provision for income taxes
  $ 67,305     $ 43,838     $ 684     $ 19,714     $ (70,107 )
Fixed charges per above less capitalized interest
    34,459       39,913       45,027       46,471       48,845  
 Amortization of capitalized interest
    827       809       685       657       652  
                                         
 Total earnings
  $ 102,591     $ 84,560     $ 46,396     $ 66,842     $ (20,610 )
                                         
Ratio of earnings to fixed charges*
    2.9 x     2.1 x     0.0 x     1.4 x        
                                         
 Coverage deficiency
                  $ (497 )           $ (69,522 )
                                         

 
*Earnings were inadequate to cover fixed charges during fiscal years 2006 and 2004.