EX-12 2 ex12-a.htm EXHIBIT 12.(A)

Exhibit 12(a)

Computation of Ratio Earnings to Fixed Charges |  |  |  |  |  |  |  |  |  |  |  |
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
|  | Fiscal Year Ended June 30, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Earnings: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) before income taxes |  | $ | 50,174 |  |  | $ | 41,239 |  |  | $ | 26,371 |
Unconsolidated affiliates' interests, net |  |  | - |  |  |  | - |  |  |  | - |
Amortization of capitalized interest |  |  | 10 |  |  |  | 10 |  |  |  | 10 |
Interest expense and other related financing costs |  |  | 8,778 |  |  |  | 9,020 |  |  |  | 11,126 |
Interest portion of rent expense (1) |  |  | 9,991 |  |  |  | 10,335 |  |  |  | 10,323 |
Adjusted earnings |  | $ | 68,953 |  |  | $ | 60,604 |  |  | $ | 47,830 |
Fixed Charges: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense and other related financing costs |  | $ | 8,778 |  |  | $ | 9,020 |  |  | $ | 11,126 |
Interest portion of rent expense (1) |  |  | 9,991 |  |  |  | 10,335 |  |  |  | 10,323 |
Total fixed charges |  | $ | 18,769 |  |  | $ | 19,355 |  |  | $ | 21,449 |
Ratio of earnings to fixed charges |  |  | 3.67 |  |  |  | 3.13 |  |  |  | 2.23 |
(1) One-third of rent expense is considered representative of the interest factor within rent expense |  |  |  |  |  |  |  |  |  |  |  |