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EXHIBIT 12.1
COMPUTATION OF EARNINGS TO FIXED CHARGES
A.
B.
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<CAPTION>
Nine Months Ended
Years Ended October 31, July 31,
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1995 1996 1997 1998 1999 1999 2000
----------- ------------ ------------ ----------- ------------ ------------ ---------
<S> <C> <C> <C> <C> <C> <C> <C>
(in thousands)
RATIO OF EARNINGS TO FIXED CHARGES (1):
Income (loss) before income tax
expense and extraordinary item..... (47,216) (31,752) (16,355) (15,559) 556 120 5,017
Fixed charges........................ 18,934 18,231 17,330 18,557 18,659 14,220 14,889
---------- ----------- ----------- ----------- ---------- --------- --------
Earnings........................ (28,282) (13,521) 975 2,998 19,215 14,340 19,906
---------- ----------- ----------- ----------- ---------- --------- --------
Fixed Charges:
1/3 rent............................. 2,572 3,394 2,963 3,036 2,718 2,039 2,039
Interest............................. 16,362 14,837 14,367 15,521 15,941 12,181 12,850
---------- ----------- ----------- ----------- ---------- --------- --------
Total fixed charges............. 18,934 18,231 17,330 18,557 18,659 14,220 14,889
---------- ----------- ----------- ----------- ---------- --------- --------
Ratio of earnings to fixed charges... -- -- -- -- 1.0x 1.0x 1.3x
Earnings shortfall................... 47,216 31,752 16,355 15,559 -- -- --
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(1) For the purpose of determining the ratio of earnings to fixed
charges, "earnings" consist of earnings (loss) before income tax
expense (benefit) plus fixed charges. "Fixed charges" consist of
interest expense, including amortization of deferred financing costs,
plus one-third of rental expense (this portion is considered to be
representative of the interest factor). For the years ended October 31,
1995, 1996, 1997 and 1998 earnings were insufficient to cover fixed
charges by $47,216, $31,752, $16,355 and $15,559, respectively.
