Exhibit 12.1
Ratios of Earnings to Fixed Charges and Preferred Stock Dividends
(Dollars in thousands) | Three-Months Ended May 31, | Six-Months Ended May 31, | |||||||||||||||
2002 | 2003 | 2002 | 2003 | ||||||||||||||
Income (Loss) from continuing operations before taxes | $ | (20,703 | ) | $ | 11,972 | $ | (26,498 | ) | $ | 14,309 | |||||||
Fixed Charges: | |||||||||||||||||
Interest | 10,915 | 9,043 | 21,696 | 18,146 | |||||||||||||
Interest factor portion of rentals | 480 | 413 | 960 | 825 | |||||||||||||
11,395 | 9,456 | 22,656 | 18,971 | ||||||||||||||
Earnings (Loss) before fixed charges | $ | (9,308 | ) | $ | 21,428 | $ | (3,842 | ) | $ | 33,280 | |||||||
Preferred stock dividends accreted or accrued | $ | 3,719 | $ | 4,169 | $ | 7,231 | $ | 8,106 | |||||||||
Ratio of earnings to fixed charges and preferred stock dividends | N/A | 1.57x | N/A | 1.23x | |||||||||||||
Earnings inadequate to cover fixed charges and preferred stock Dividends | $ | 24,422 | N/A | $ | 33,729 | N/A | |||||||||||