EXHIBIT (12)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PRO FORMA
SIX MONTHS TWELVE TWELVE
ENDED MONTHS MONTHS
YEARS ENDED AUGUST 31, ------------------- ENDED ENDED
---------------------------------------- FEB. 28, FEB. 29, FEB. 29, FEB. 29,
1991 1992 1993 1994 1995 1995 1996 1996 1996
----- ----- ------ ------ ------ -------- -------- -------- ---------
Earnings:
Income (loss) before income
taxes.............................. (74) (596) 2,770 3,962 94 (1,560) (2,956) (1,302) (4,528)
Fixed charges (see computation
below)............................. 7,527 7,803 7,911 9,251 11,631 5,619 7,433 13,445 16,671
Reduced by: Interest
capitalized........................ (4) (113) (347) -- (451) (798) (798)
----- ----- ------ ------ ------ -------- -------- -------- ---------
Total earnings available for
fixed charges................. 7,453 7,007 10,677 13,100 11,378 4,059 4,026 11,345 11,345
Fixed charges:
Interest expense.................. 2,820 2,039 2,064 2,804 5,067 2,415 3,737 6,389 9,201
Capitalized interest.............. -- -- 4 113 347 -- 451 798 798
Amortization...................... 97 93 144 63 75 40 122 157 571
Interest component of rent
expense............................ 4,610 5,471 5,699 6,271 6,142 3,164 3,123 6,101 6,101
----- ----- ------ ------ ------ -------- -------- -------- ---------
Total fixed charges............. 7,527 7,603 7,911 9,251 11,631 5,619 7,433 13,445 16,671
Ratio of earnings to fixed
charges............................ 1.35 1.42 -- -- -- --
Deficit of earnings to fixed
charges............................ 74 596 -- -- 253 1,560 3,407 2,100 5,326