EXHIBIT 12
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
and
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Continuing operations only; presented in thousands, except ratio factors)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Nine Months
Ended
Fiscal Years Ended September 30, June 30,
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1995 1996 1997 1998 1999 2000
----- ----- ----- ----- ----- -----
Loss before income taxes ($26,480) ($15,970) ($42,351) ($32,692) ($21,456) ($24,963)
Add Fixed Charges:
Interest expense 3,629 2,828 3,493 6,564 7,118 6,418
Interest factor portion of rentals 1,435 1,605 1,575 1,409 1,246 924
--------------------------------------------------------------------------------------
5,064 4,433 5,068 7,973 8,364 7,342
Loss before income taxes and
fixed charges ($21,416) ($11,537) ($37,283) ($24,719) ($13,092) ($17,621)
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Ratio of earnings to fixed charges --- (1) --- (1) --- (1) --- (1) --- (1) --- (1)
======================================================================================
Ratio of earnings to combined fixed charges
and preferred stock dividends (2) --- (1) --- (1) --- (1) --- (1) --- (1) --- (1)
======================================================================================
</TABLE>
(1) Earnings were not sufficient to cover "fixed charges" or "combined
fixed charges and preferred stock dividends" as follows (in
thousands): $26,480, $15,970, $42,351, $32,692 and $21,456 in the
fiscal years ended September 30, 1995, 1996, 1997, 1998 and 1999,
respectively, and $24,963 in the nine months ended June 30, 2000.
(2) The Company commenced payment of preferred stock dividends in fiscal
1997, in the amount of $1.8 million per year. In addition, the Company
will commence payment of additional cumulative preferred stock
dividends on newly issued preferred stock at the rate of $250,000 per
year, from July 31, 2000 on a quarterly basis.
