Exhibit 12.1
Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
| |
Twelve Months Ended |
Six Months Ended |
Twelve Months Ended |
Three Months Ended |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
June 1998 |
June 1999 |
December 1999 |
December 2000 |
December 2001 |
December 2002 |
March 2003 |
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| Earnings: | |||||||||||||||||||||||
| Income from continuing operations before income taxes per consolidated statement of operations | $ | 41,353 | $ | 44,923 | $ | 25,411 | $ | 49,212 | $ | 40,168 | $ | 50,218 | $ | 14,024 | |||||||||
| Less: | |||||||||||||||||||||||
| Minority interest | 353 | 995 | 144 | 105 | 198 | (117 | ) | (21 | ) | ||||||||||||||
| Add: | |||||||||||||||||||||||
| Interest expense | 6,514 | 6,150 | 4,456 | 9,897 | 9,422 | 8,692 | 2,084 | ||||||||||||||||
| Portion of rent representative of an interest factor | 729 | 791 | 349 | 665 | 706 | 820 | 205 | ||||||||||||||||
Adjusted income before income taxes |
$ |
48,243 |
$ |
50,869 |
$ |
30,072 |
$ |
59,669 |
$ |
50,098 |
$ |
59,847 |
$ |
16,334 |
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Fixed Charges: |
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| Interest expense | $ | 6,514 | $ | 6,150 | $ | 4,456 | $ | 9,897 | $ | 9,422 | $ | 8,692 | $ | 2,084 | |||||||||
| Portion of rent representative of an interest factor | 729 | 791 | 349 | 665 | 706 | 820 | 205 | ||||||||||||||||
| $ | 7,243 | $ | 6,941 | $ | 4,805 | $ | 10,562 | $ | 10,128 | $ | 9,512 | $ | 2,289 | ||||||||||
| Ratio of earnings to fixed charges | 6.7 | 7.3 | 6.3 | 5.6 | 4.9 | 6.3 | 7.1 | ||||||||||||||||