Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratios)
Predecessor | Successor | |||||||||||||||||||||||
Period | Period | |||||||||||||||||||||||
July 1, | August 15, | |||||||||||||||||||||||
2007 | 2007 | Three months | Three months | |||||||||||||||||||||
to | to | Year Ended | Year Ended | Ended | Ended | |||||||||||||||||||
August 14, | June 30, | June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||
2007 | 2008 | 2009 | 2010 | 2009 | 2010 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) from continuing operations | ||||||||||||||||||||||||
before income taxes | $ | (21,239 | ) | $ | (139,531 | ) | $ | (92,020 | ) | $ | (11,449 | ) | $ | (26,708 | ) | $ | (18,064 | ) | ||||||
Add: fixed charges | 584 | 76,810 | 86,277 | 86,713 | 21,654 | 22,015 | ||||||||||||||||||
Total adjusted earnings (loss) | $ | (20,655 | ) | $ | (62,721 | ) | $ | (5,743 | ) | $ | 75,264 | $ | (5,054 | ) | $ | 3,951 | ||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 58 | $ | 71,144 | $ | 79,052 | $ | 79,177 | $ | 19,846 | $ | 20,045 | ||||||||||||
Amortization of deferred financing costs | 217 | 3,514 | 4,771 | 4,771 | 1,193 | 1,193 | ||||||||||||||||||
Rentals at computed interest factor (1) | 309 | 2,152 | 2,454 | 2,765 | 615 | 777 | ||||||||||||||||||
Total fixed charges | $ | 584 | $ | 76,810 | $ | 86,277 | $ | 86,713 | $ | 21,654 | $ | 22,015 | ||||||||||||
Ratio of Earnings to Fixed Charges* | * | * | * | 0.9x | * | 0.2x | ||||||||||||||||||
(1) Amounts represent one-third of rent expense, which we believe to be representative of the interest factored in these rentals.
*The deficit of earnings to fixed charges was $21.2 million for the period July 1, 2007 through August 14, 2007, $139.5 million for the period August 15, 2007 through June 30, 2008, $92.0 million for the year ended June 30, 2009, $11.4 million for the year ended June 30, 2010 and $26.7 million and $18.1 million, respectively, for the three months ended September 30, 2009 and 2010.
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