Exhibit 12 CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS) THREE MONTHS ENDED YEAR ENDED JULY 31, OCTOBER 31, ----------------------------------------------------------- ---------------------- 1998 1999 2000 2001 2002 2001 2002 --------- --------- --------- --------- --------- -------- --------- EARNINGS Income before cumulative effect of change in accounting principle $ 46,510 $ 61,271 $ 60,507 $ 34,206 $ 12,878 $ 2,366 $ 329 Income tax provision 23,960 29,745 35,536 20,091 6,343 1,165 155 --------- --------- --------- --------- --------- --------- --------- Earnings 70,470 91,016 96,043 54,297 19,221 3,531 484 --------- --------- --------- --------- --------- --------- --------- FIXED CHARGES Interest expense 254 1,772 21,169 22,195 16,255 4,338 5,504 Portion of rental expense representative of interest factor 701 705 1,113 2,082 3,030 787 657 --------- --------- --------- --------- --------- --------- --------- Fixed charges 955 2,477 22,282 24,277 19,285 5,125 6,161 --------- --------- --------- --------- --------- --------- --------- CAPITALIZED INTEREST -- -- (580) -- -- -- -- --------- --------- --------- --------- --------- --------- --------- EARNINGS BEFORE INCOME TAX PROVISION AND FIXED CHARGES $ 71,425 $ 93,493 $ 117,745 $ 78,574 $ 38,506 $ 8,656 $ 6,645 ========= ========= ========= ========= ========= ========= ========= RATIO OF EARNINGS TO FIXED CHARGES 74.8X 37.7X 5.3X 3.2X 2.0X 1.7X 1.1X ========= ========= ========= ========= ========= ========= =========