EXHIBIT 12.1
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Predecessor
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Historical Pro Forma
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Year Ended
Year ended March 31, March 31,
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2000 2001 2002 2003 2004 2004
Earnings:
Income (loss) from operations
before income taxes $15,142 $(3,575) $ 2,298 $19,109 $(25,189) $ (1,924)
Plus fixed charges 3,449 6,466 7,809 6,235 15,521 32,217
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Earnings $18,591 $ 2,891 $10,107 $25,344 $ (9,668) $ 30,293
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Fixed charges:
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Interest expense, including
amortization of debt issue costs $ 1,276 $ 3,034 $ 3,510 $ 4,162 $ 13,148 $ 31,923
Estimated interest
factor of rental expense 2,173 3,432 4,299 2,073 2,373 294
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Fixed charges 3,449 6,466 7,809 6,235 15,521 32,217
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Ratio of Earnings to Fixed Charges(1) 5.4 - 1.3 4.1 - -
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(1)For the purposes of calculating the ratio of earnings to fixed charges, (a) earnings consists of earnings (loss) before fixed
charges and income taxes and (b) fixed charges consist of interest expense on all indebtedness, including capital lease obligations.
During the periods presented, no interest costs have been capitalized. The dollar amount of the deficiency as calculated in
accordance with U.S. GAAP was $3,575 for the fiscal year ended March 31, 2001, and $25,189 for the fiscal year ended March 31, 2004.
The pro forma deficiency for the fiscal year ended March 31, 2004 was $1,924 as calculated in accordance with U.S. GAAP.