Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
(in thousands, except ratios)
| Fiscal Year Ended | ||||||||||||||||||||
| October 27, | October 28, | October 29, | October 30, | October 25, | ||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
| Earnings (loss) from continuing operations before taxes | $ | 144,915 | $ | 98,352 | $ | 55,198 | $ | (19,624 | ) | $ | (134,697 | ) | ||||||||
| Fixed charges from continuing operations | ||||||||||||||||||||
| Interest expense and amortization of debt discount and issuance costs on all indebtedness | 6,414 | 7,082 | 7,693 | 10,677 | 13,339 | |||||||||||||||
| Interest included in rent | 5,159 | 3,616 | 3,578 | 3,722 | 7,579 | |||||||||||||||
| Total fixed charges from continuing operations | 11,573 | 10,698 | 11,271 | 14,399 | 20,917 | |||||||||||||||
| Earnings (loss) before taxes and fixed charges | $ | 156,488 | $ | 109,050 | $ | 66,469 | $ | (5,225 | ) | $ | (113,780 | ) | ||||||||
| Ratio of earnings to fixed charges (1) | 13.5x | 10.2x | 5.9x | — | — | |||||||||||||||
| Coverage deficiency (2) | $ | — | $ | — | $ | — | $ | 19,624 | $ | 134,697 | ||||||||||
| (1) | The ratio of earnings to fixed charges was computed by dividing earnings (loss) from continuing operations before taxes by fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include (i) interest expense and amortization of debt discount and issuance costs on all indebtedness, and (ii) one-third of all rental expense, which the Company considers to be a reasonable approximation of the interest factor included in rental expense. | |
| (2) | Earnings were inadequate to cover fixed charges. For the years ended October 30, 2004 and October 25, 2003, the Company needed additional earnings of $19.6 million and $134.7 million, respectively, to achieve a ratio of earnings to fixed charges of 1.0x. |