STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in thousands) Exhibit 12
Twelve
Months
Ended
Six Months Ended December
Fiscal Years Ended June 30, December 31, 31,
----------------------------------------------------- ------------------- --------
1992 1993 1994 1995 1996 1995 1996 1996
------- ------- ------- ------- ------- ------- ------- -------
HISTORICAL
Registrant's pretax income from
continuing operations $ 18,077 $ 20,055 $ 22,105 $ 26,220 $ 30,226 $ 19,203 $20,697 $ 31,720
Interest 2,757 2,473 2,455 2,522 2,608 1,476 1,465 2,597
Amortization of debt expense and
discount or premium 9 9 9 9 9 5 5 9
------- ------- ------- ------- ------- ------- ------- -------
Total fixed charges 2,766 2,482 2,464 2,531 2,617 1,481 1,470 2,606
------- ------- ------- ------- ------- ------- ------- -------
Total earnings and fixed charges $ 20,843 $ 22,537 $ 24,569 $ 28,751 $ 32,843 $ 20,684 $ 22,167 $ 34,326
------- ------- ------- ------- ------- ------- ------- -------
Total fixed charges $ 2,766 $ 2,482 $ 2,464 $ 2,531 $ 2,617 $ 1,481 $ 1,470 $ 2,606
------- ------- ------- ------- ------- ------- ------- -------
Ratio 7.5x 9.1x 10.0x 11.4x 12.5x 14.0x 15.1x 13.2x
======== ======== ======== ======== ======== ======== ======= ========
PRO FORMA
Pretax income from continuing operations $14,175 $12,949 $15,592
Interest 19,034 9,525 19,040
------- ------- -------
Total earnings and fixed charges $33,209 $22,474 $34,632
======= ======= =======
Total fixed charges $19,034 $ 9,525 $19,040
------- ------- -------
Pro forma ratio 1.8x 2.4x 1.8x
======= ======= =======