1
EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS)
FISCAL YEAR ENDED FIVE MONTHS FISCAL YEAR ENDED
OCTOBER 31, MARCH 31, MARCH 31,
--------------------------------------------------------------
1994 1995 1996 1997 1998 1998
------ ------ ------ ------ ------- -------
Pre-tax income (loss) from continuing operations $ 1.9 $ 1.8 $ (1.6) $ (3.0) $ (39.0) $ (64.1)
------ ------ ------ ------ ------- -------
Fixed charges:
Interest expense and amortization of debt 0.4 1.2 0.4 2.3 11.0 31.3
issuance costs
Interest factor on rental expense 0.0 0.0 0.0 0.3 1.0 1.0
------ ------ ------ ------ ------- -------
Total fixed charges 0.4 1.2 0.4 2.6 12.0 32.3
------ ------ ------ ------ ------- -------
Pre-tax income (loss) before fixed charges $ 2.3 $ 3.0 $ (1.2) $ (0.4) $ (27.0) $ (31.8)
------ ------ ------ ------ ------- -------
Ratio of earnings to fixed charges 5.8 2.5 - - - -
Deficiency of earnings to covered fixed charges $ - $ - $ (1.6) $ (3.0) $ (39.0) $ (64.1)