Exhibit 12.1
Ratio of Earnings to Fixed Charges
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 our convertible senior subordinated notes.
For purposes of computing the ratio of earnings to fixed charges, “earnings” consist of income before income taxes and fixed charges. “Fixed charges” consist of interest expense and the portion of rent expense we believe represents the interest component of such rent expense.
(in thousands, expect for ratios)
| Years ended June 30, | ||||||||||||||||||||
| 2004 | 2005 | 2006 | 2007 | 2008 | ||||||||||||||||
Fixed charges: | ||||||||||||||||||||
| Interest expense | $ | 134 | $ | 1,145 | $ | 1,939 | $ | 1,950 | $ | 1,822 | ||||||||||
| Portion of rent expense deemed to represent interest | 358 | 392 | 262 | 344 | 349 | |||||||||||||||
| Total fixed charges | $ | 492 | $ | 1,537 | $ | 2,201 | $ | 2,294 | $ | 2,171 | ||||||||||
Earnings: | ||||||||||||||||||||
| Net income | $ | 12,992 | $ | 37,985 | $ | 13,701 | $ | 26,534 | $ | 31,100 | ||||||||||
| Income taxes | 7,934 | 20,347 | 11,822 | 11,897 | 17,688 | |||||||||||||||
| Fixed charges | 492 | 1,537 | 2,201 | 2,294 | 2,171 | |||||||||||||||
| Total earnings for computation of ratio | $ | 21,418 | $ | 59,869 | $ | 27,724 | $ | 40,725 | $ | 50,959 | ||||||||||
| Ratio of earnings to fixed charges | 43.5 | 39.0 | 12.6 | 17.8 | 23.5 | |||||||||||||||