EXHIBIT 12.1
Set forth below is information concerning our ratio of earnings to fixed charges on a consolidated basis for the periods indicated. This ratio shows the extent to which our business generates enough earnings after the payment of all expenses other than interest to make the required interest payments on the notes.
For purposes of computing the ratios of earnings to fixed charges, “earnings” consist of income from continuing operations before income taxes and fixed charges. “Fixed charges” consist of interest on all indebtedness and an interest factor attributable to rentals.
| Years Ended July 31, | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2001 | 2002 | 2003 | 2004 | 2005 | |||||||||||||
| (In thousands, except for ratios) | |||||||||||||||||
| Fixed Charges: | |||||||||||||||||
| Interest expense, including | |||||||||||||||||
| amortization of debt issuance | |||||||||||||||||
| costs | $ | 4,015 | $ | 3,061 | $ | 2,803 | $ | 1,425 | $ | 2,679 | |||||||
| Portion of rental expense deemed to | |||||||||||||||||
| represent interest | 574 | 793 | 852 | 1,025 | 1,155 | ||||||||||||
| Total fixed charges | $ | 4,589 | $ | 3,854 | $ | 3,655 | $ | 2,450 | $ | 3,834 | |||||||
| Earnings: | |||||||||||||||||
| Income before provision (benefit) | |||||||||||||||||
| for income taxes | $ | 10,602 | $ | 780 | $ | 14,278 | $ | 32,098 | $ | 53,457 | |||||||
| Fixed charges | 4,589 | 3,854 | 3,655 | 2,450 | 3,834 | ||||||||||||
| Total earnings for computation of | |||||||||||||||||
| ratio | $ | 15,191 | $ | 4,634 | $ | 17,933 | $ | 34,548 | $ | 57,291 | |||||||
| Ratio of earnings to fixed charges | 3.3 | 1.2 | 4.9 | 14.1 | 14.9 | ||||||||||||
