Exhibit 99.1
DEBT COVENANT COMPLIANCE
AS OF JANUARY 31, 2009
AS OF JANUARY 31, 2009
Consolidated Adjusted EBITDA:
(in 000s) | LTM* | Q4 FY08 | Q1 FY09 | Q2 FY09 | Q3 FY09 | |||||||||||||||
Net Income | $ | (6,013 | ) | $ | 13,335 | $ | 1,603 | $ | 412 | $ | (21,363 | ) | ||||||||
Add Back: | ||||||||||||||||||||
Depreciation and Amortization | 4,549 | 1,339 | 1,050 | 1,047 | 1,113 | |||||||||||||||
Income Tax Provision (Benefit) | (14,671 | ) | (8,391 | ) | 2,664 | 2,162 | (11,106 | ) | ||||||||||||
Interest Income (Expense) | 276 | (60 | ) | (49 | ) | 37 | 348 | |||||||||||||
Non-Cash Charges | 9,945 | 3,566 | 526 | 1,672 | 4,181 | |||||||||||||||
Allowable Add backs Pursuant to Credit Facility Agreement, as amended | 31,400 | — | 1,696 | 404 | 29,300 | |||||||||||||||
Consolidated Adjusted EBITDA | $ | 25,486 | $ | 9,789 | $ | 7,491 | $ | 5,734 | $ | 2,473 | ||||||||||
Minimum Required | $ | 20,000 |
* | Last Twelve Months (Most Recent Four Fiscal Quarters) |
Consolidated Leverage Ratio:
Long-Term Obligations and Notes Payable | $ | 5,444 | ||||||||||||||||||
Letters of Credit | 2,066 | |||||||||||||||||||
Consolidated Debt | $ | 7,510 | ||||||||||||||||||
Consolidated Adjusted EBITDA | $ | 25,486 | ||||||||||||||||||
Consolidated Leverage Ratio | 0.3 | |||||||||||||||||||
Maximum Permitted | 2.5 to 1.0 |
Consolidated Interest Coverage Ratio:
Consolidated Adjusted EBITDA | $ | 25,486 | ||||||||||||||||||
Interest Expense | $ | 729 | ||||||||||||||||||
Interest Coverage | 35.0 | |||||||||||||||||||
Minimum Interest Coverage Required | 3.5 |