<PAGE>
EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS, EXCEPT RATIO INFORMATION)
<TABLE>
<CAPTION>
FOR THE NINE MONTHS
FOR THE YEAR ENDED MAY 31, ENDED FEBRUARY 26,
---------------------------------------------------------------- ----------------------
HISTORICAL PRO FORMA HISTORICAL PRO FORMA
---------------------------------------------------- --------- ---------- ---------
1995 1996 1997 1998 1999 1999 2000 2000
-------- -------- -------- -------- -------- --------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Income (loss) before
income taxes and
extraordinary item..... $(10.1) $24.4 $(15.9) $(15.4) $(12.5) $(9.7) $ 6.2 $10.2
------ ----- ------ ------ ------ ----- -----
Interest expense......... 17.3 27.9 33.6 35.0 33.0 34.8 25.6 22.1
Interest portion of
rentals................ 0.9 0.8 2.8 3.1 2.9 2.9 2.1 2.1
Amortization of deferred
financing fees......... 1.2 2.5 3.0 4.8 7.0 1.7 1.9 1.4
------ ----- ------ ------ ------ ----- ----- -----
Total fixed charges...... $ 19.4 $31.2 $ 39.4 $ 42.9 $ 42.9 $39.4 $29.6 $25.6
------ ----- ------ ------ ------ ----- ----- -----
Earnings available for
fixed charges.......... $ 9.3 $55.6 $ 23.5 $ 27.5 $ 30.4 $29.7 $35.8 $35.8
====== ===== ====== ====== ====== ===== ===== =====
Ratio of earnings to
fixed charges.......... 0.5 1.8 0.6 0.6 0.7 0.8 1.2 1.4
====== ===== ====== ====== ====== ===== ===== =====
Excess (deficiency) to
cover fixed charges.... $(10.1) $24.4 $(15.9) $(15.4) $(12.5) $(9.7) $ 6.2 $10.2
====== ===== ====== ====== ====== ===== ===== =====
<CAPTION>
FOR THE
NINE MONTHS
ENDED
FEBRUARY 27,
--------------
HISTORICAL
--------------
1999
--------------
<S> <C>
Income (loss) before
income taxes and
extraordinary item..... $ 3.3
-----
Interest expense......... 24.6
Interest portion of
rentals................ 2.1
Amortization of deferred
financing fees......... 4.5
-----
Total fixed charges...... $31.2
-----
Earnings available for
fixed charges.......... $34.5
=====
Ratio of earnings to
fixed charges.......... 1.1
=====
Excess (deficiency) to
cover fixed charges.... $ 3.3
=====
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