EXHIBIT 12.1
Ratio of Earnings to Fixed Charges
(unaudited)
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| Year Ended October 31, |
| Three months ended |
| Six months ended |
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(in thousands, except ratios) |
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| 2005 |
| 2006 |
| 2006 |
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Consolidated pretax earnings (loss) from continuing operations before minority interest |
| $ | (270,355 | ) | $ | (95,722 | ) | $ | (54,597 | ) | $ | 75,518 |
| $ | 466,016 |
| $ | 10,925 |
| $ | 24,083 |
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Interest expense |
| — |
| — |
| — |
| 992 |
| 3,000 |
| 750 |
| 1,500 |
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Amortization of debt issuance costs |
| — |
| — |
| — |
| 982 |
| 2,972 |
| 743 |
| 1,486 |
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Interest portion of rental expense |
| 10,500 |
| 8,700 |
| 7,200 |
| 6,440 |
| 6,990 |
| 1,456 |
| 2,866 |
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Earnings (loss) |
| $ | (259,855 | ) | $ | (87,022 | ) | $ | (47,397 | ) | $ | 83,932 |
| $ | 478,978 |
| $ | 13,874 |
| $ | 29,935 |
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Interest expense |
| $ | — |
| $ | — |
| $ | — |
| $ | 992 |
| $ | 3,000 |
| $ | 750 |
| $ | 1,500 |
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Amortization of debt issuance costs |
| — |
| — |
| — |
| 982 |
| 2,972 |
| 743 |
| 1,486 |
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Interest portion of rental expense |
| 10,500 |
| 8,700 |
| 7,200 |
| 6,440 |
| 6,990 |
| 1,456 |
| 2,866 |
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Fixed charges |
| $ | 10,500 |
| $ | 8,700 |
| $ | 7,200 |
| $ | 8,414 |
| $ | 12,962 |
| $ | 2,949 |
| $ | 5,852 |
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Ratio of earnings to fixed charges |
| (a | ) | (a | ) | (a | ) | 10.0 |
| 37.0 |
| 4.7 |
| 5.1 |
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(a) Due to the loss in fiscal 2001, 2002, and 2003, the ratio of earnings to fixed charges was less than 1:1 in each of those periods. The Company would have had to generate additional earnings of $270.4 million, $95.7 million, and $54.6 million in fiscal 2001, 2002, and 2003, respectively, to achieve a ratio of 1:1.