EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
FOR THE FISCAL YEAR ENDED OCTOBER 31 | FOR THE NINE MONTHS ENDED | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2007 | 2008 | July 31, 2009 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Earnings before minority interests and income taxes | $ | 36,555,000 | $ | 44,041,000 | $ | 63,983,000 | $ | 82,816,000 | $ | 102,837,000 | $ | 63,896,000 | ||||||||||||
Fixed charges | 2,336,000 | 2,318,000 | 4,886,000 | 4,930,000 | 4,666,000 | 2,285,000 | ||||||||||||||||||
Adjusted earnings | $ | 38,891,000 | $ | 46,359,000 | $ | 68,869,000 | $ | 87,746,000 | $ | 107,503,000 | $ | 66,181,000 | ||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest expense | $ | 1,090,000 | $ | 1,136,000 | $ | 3,523,000 | $ | 3,293,000 | $ | 2,314,000 | $ | 484,000 | ||||||||||||
Amortization of debt issuance costs | 334,000 | 289,000 | 227,000 | 230,000 | 327,000 | 208,000 | ||||||||||||||||||
Portion of rental payments deemed to be interest (1) | 912,000 | 893,000 | 1,136,000 | 1,407,000 | 2,025,000 | 1,593,000 | ||||||||||||||||||
Total fixed charges | $ | 2,336,000 | $ | 2,318,000 | $ | 4,886,000 | $ | 4,930,000 | $ | 4,666,000 | $ | 2,285,000 | ||||||||||||
Ratio of earnings to fixed charges: | 16.6 | 20.0 | 14.1 | 17.8 | 23.0 | 29.0 | ||||||||||||||||||
(1) Interest portion of rental expense is estimated to be one-third of rental expense.