Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratios)
| | Successor | | | Predecessor | |
| | Year Ended June 30, 2010 | | | Year Ended June 30, 2009 | | | Period August 15, 2007 through June 30, 2008 | | | Period July 1, 2007 through August 14, 2007 | |
Earnings: | | | | | | | | | | | | |
Income (loss) from continuing operations before income taxes | | $ | (11,449 | ) | | $ | (92,020 | ) | | $ | (139,531 | ) | | $ | (21,239 | ) |
Add: fixed charges | | | 86,713 | | | | 86,277 | | | | 76,810 | | | | 584 | |
Total adjusted earnings (loss) | | $ | 75,264 | | | $ | (5,743 | ) | | $ | (62,721 | ) | | $ | (20,655 | ) |
| | | | | | | | | | | | | | | | |
Fixed Charges: | | | | | | | | | | | | | | | | |
Interest expense | | $ | 79,177 | | | $ | 79,052 | | | $ | 71,144 | | | $ | 58 | |
Amortization of deferred financing costs | | | 4,771 | | | | 4,771 | | | | 3,514 | | | | 217 | |
Rentals at computed interest factor (1) | | | 2,765 | | | | 2,454 | | | | 2,152 | | | | 309 | |
Total fixed charges | | $ | 86,713 | | | $ | 86,277 | | | $ | 76,810 | | | $ | 584 | |
| | | | | | | | | | | | | | | | |
Ratio of Earnings to Fixed Charges* | | | 0.9 | x | | | * | | | | * | | | | * | |
(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 11.4 million for the year ended June 30, 2010, $92.0 million for the year ended June 30, 2009, $139.5 million for the period August 15, 2007 through June 30, 2008 and $21.2 million for the period July 1, 2007 through August 14, 2007. |