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.
.
