Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratios)
Successor | Predecessor | |||||||||||||||
Period | Period | |||||||||||||||
August 15, | July 1, | |||||||||||||||
2007 | 2007 | |||||||||||||||
Year Ended | through | through | Year Ended | |||||||||||||
June 30, | June 30, | August 14, | June 30, | |||||||||||||
2009 | 2008 | 2007 | 2007 | |||||||||||||
Earnings: | ||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (92,020 | ) | $ | (139,531 | ) | $ | (21,239 | ) | $ | 33,729 | |||||
Add: fixed charges | 86,277 | 76,810 | 584 | 3,848 | ||||||||||||
Total adjusted earnings (loss) | $ | (5,743 | ) | $ | (62,721 | ) | $ | (20,655 | ) | $ | 37,577 | |||||
Fixed Charges: | ||||||||||||||||
Interest expense | $ | 79,052 | $ | 71,144 | $ | 58 | $ | 585 | ||||||||
Amortization of deferred financing costs | 4,771 | 3,514 | 217 | 87 | ||||||||||||
Rentals at computed interest factor (1) | 2,454 | 2,152 | 309 | 3,176 | ||||||||||||
Total fixed charges | $ | 86,277 | $ | 76,810 | $ | 584 | $ | 3,848 | ||||||||
Ratio of Earnings to Fixed Charges* | * | * | * | 9.8 | 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 $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. |