1
EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
SIX MONTHS
ENDED
FISCAL YEAR ENDED APRIL 30, OCTOBER 31,
---------------------------------------------- ----------------
1993 1994 1995 1996 1997 1996 1997
----- ------ ------ ------ ------- ------ ------
Fixed charges
Interest expense.... $ 10 $ 21 $ 45 $ 33 $ 75 $ 14 $ 403
Amortization of
capitalized
expenses related
to indebtedness... -- -- -- -- -- -- --
----- ------ ------ ------ ------- ------ ------
TOTAL FIXED
CHARGES............. $ 10 $ 21 $ 45 $ 33 $ 75 $ 14 $ 403
===== ====== ====== ====== ======= ====== ======
Income from
continuing
operations before
taxes............... (6) 337 2,483 7,086 14,354 5,562 5,433
Fixed charges......... 10 21 45 33 75 14 403
----- ------ ------ ------ ------- ------ ------
TOTAL EARNINGS........ $ 4 $ 358 $2,528 $7,119 $14,429 $5,576 $5,836
===== ====== ====== ====== ======= ====== ======
RATIO OF EARNINGS TO
FIXED CHARGES....... 0.40 17.05 56.18 215.73 192.39 398.29 14.48
PRO FORMA PRO FORMA PRO FORMA
FISCAL YEAR SIX MONTH PERIOD SIX MONTH PERIOD
ENDED APRIL 30, ENDED OCTOBER 31, ENDED OCTOBER 31,
1997 1996 1997
--------------- ---------------- --------------
Fixed charges
Interest expense.... $10,369 $5,184 $5,184
Amortization of
capitalized
expenses related
to indebtedness... 734 367 367
------- ------ ------
TOTAL FIXED
CHARGES............. $11,103 $5,551 $5,551
======= ====== ======
Income from
continuing
operations before
taxes............... 3,930 (96) 156
Fixed charges......... 11,103 5,551 5,551
------- ------ ------
TOTAL EARNINGS........ $15,033 $5,455 $5,707
======= ====== ======
RATIO OF EARNINGS TO
FIXED CHARGES....... 1.35 .98 1.03