EX-12.1 2 ex12-1_113004.txt EXHIBIT 12.1 EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Amounts in Thousands) (unaudited)
Year Ended June 30, ----------------------------------------------------------------------------- 2004 2003 2002 2001 2000 ---- ---- ---- ---- ---- Fixed Charges: Interest expense on indebtedness $ 45,324 $ 45,026 $ 46,553 $ 44,292 $ 42,179 Amortization of debt issuance costs 1,960 2,500 2,033 1,561 1,306 Capitalized interest 67 11 1,772 4,824 447 Interest expense on portion of rent expense representative of interest 1,561 1,759 1,795 1,450 1,270 -------- -------- --------- -------- -------- Total fixed charges $ 48,912 $ 49,296 $ 52,153 $ 52,127 $ 45,202 ======== ======== ========= ======== ======== Earnings: Net income (loss) before provision for income taxes $ (70,107) $ (42,016) $ (22,924) $ 64,329 $ 89,117 Fixed charges per above less capitalized interest 48,845 49,285 50,381 47,303 44,755 Amortization of capitalized interest 652 647 529 208 182 -------- -------- --------- -------- -------- Total earnings $(20,610) $ 7,916 $ 27,986 $111,840 $134,054 ======== ======== ========= ======== ======== Ratio of earnings to fixed charges* 2.1x 3.0x ======== ======== Coverage deficiency $(69,522) $ (41,380) $ (24,167) ========= ========== ========== -----------------------------------------------------------------------------------------------------------------------
* Earnings were inadequate to cover fixed charges during fiscal years 2004, 2003 and 2002.