Exhibit 12 STATEMENT RE COMPUTATION OF RATIOS (IN THOUSANDS) YEAR ENDED MARCH 31, PRO FORMA -------------------------------------- --------- YEAR CONSOLIDATED STATEMENT OF ENDED OPERATIONS DATA 1993 1994 1995 1996 1997 1998 3/31/98 ------ ------ ------ ------ ------ ------ --------- Income (loss) before income taxes and extraordinary credit....... 21,220 23,847 28,095 26,108 35,434 70,807 9,096 Add: Portion of rents representative of the interest factor......... 1,400 1,533 1,467 1,900 2,067 2,700 2,700 Interest on indebtedness........ 2,229 3,794 3,919 1,723 828 1,221 52,191 Amortization of debt expense and premium........................ 2,996 ------ ------ ------ ------ ------ ------ ------ Income as adjusted.............. 24,849 29,174 33,481 29,731 38,329 74,728 66,983 ------ ------ ------ ------ ------ ------ ------ Fixed charges: Portion of rents representative of interest factor............. 1,400 1,533 1,467 1,900 2,067 2,700 2,700 Interest on indebtedness........ 2,229 3,794 3,919 1,723 828 1,221 52,191 Amortization of debt expense and premium........................ 2,996 ------ ------ ------ ------ ------ ------ ------ Fixed charges................... 3,629 5,327 5,386 3,623 2,895 3,921 57,887 ------ ------ ------ ------ ------ ------ ------ Ratio of earnings to fixed charges 6.8 5.5 6.2 8.2 13.2 19.1 1.2 ====== ====== ====== ====== ====== ====== ======