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EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS)
FIVE MONTHS FISCAL YEAR ENDED
FISCAL YEAR ENDED OCTOBER 31, MARCH 31, MARCH 31,
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1993 1994 1995 1996 1997 1998
---- ---- ---- ---- ---- ----
Pre-tax income (loss) from continuing operations $ (0.6) $ 1.9 $ 1.8 $ (1.6) $ (3.0) $ (29.3)
---------- ---------- ---------- ---------- ---------- ----------
Fixed charges:
Interest expense and amortization of debt 0.3 0.4 1.2 0.5 2.3 11.0
issuance costs
Interest factor on rental expense 0.0 0.0 0.0 0.0 0.3 1.0
--- --- --- --- --- ---
Total fixed charges 0.3 0.4 1.2 0.5 2.6 12.0
--- --- --- --- --- ----
Pre-tax income (loss) before fixed charges $ (0.3) $ 2.3 $ 3.0 $ (1.1) $ (0.4) $ (17.3)
---------- ---------- ---------- ----------- ---------- ----------
Ratio of earnings to fixed charges - 5.4 2.5 - - -
Deficiency of earnings to covered fixed charges $ (0.6) $ - $ - $ (1.6) $ (3.0) $ (29.3)
PROFORMA
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QUARTER ENDED YEAR ENDED QUARTER ENDED
JUNE 30, MARCH 31, JUNE 30,
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1997 1998 1998 1998
---- ---- ---- ----
Pre-tax income (loss) from continuing operations $ 0.6 $ (1.6) $ (33.4) $ (5.8)
---------- ---------- ----------- ---------
Fixed charges:
Interest expense and amortization of debt 1.5 4.9 27.9 6.8
issuance costs
Interest factor on rental expense 0.1 0.2 1.5 0.3
--- --- --- ---
Total fixed charges 1.6 5.1 29.4 7.1
--- --- ---- ---
Pre-tax income (loss) before fixed charges $ 2.2 $ 3.5 $ (4.0) $ 1.3
---------- ---------- ----------- ---------
Ratio of earnings to fixed charges 1.3 - - -
Deficiency of earnings to covered fixed charges $ - $ (1.6) $ (33.4) $ (5.8)