EX-12 7 exhibit12.htm EXHIBIT 12 Exhibit 12

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar Amounts In Thousands)

       2003    2002    2001    2000    1999  





EARNINGS  
Pre-tax income (loss)   $ (67,746 ) $ (79,157 ) $ (4,416 ) $ 123   $ 40,092  
Fixed charges    11,205    4,611    7,832    13,024    13,109  





Total   $ (56,541 ) $ (74,546 ) $ 3,416   $ 13,147   $ 53,201  





FIXED CHARGES  
Interest expense and amortization of  
   debt discount and premium on all  
   indebtedness   $ 9,887   $ 3,257   $ 6,541   $ 11,889   $ 12,221  
Interest portion of rental expense    1,318    1,354    1,291    1,135    888  





Total fixed charges   $ 11,205   $ 4,611   $ 7,832   $ 13,024   $ 13,109  





Ratio of earnings to fixed  
charges    (A)    (B)    (C)    1.0x    4.1x  



(A)  

Earnings were insufficient to cover fixed charges by $67.7 million in 2003.


(B)  

Earnings were insufficient to cover fixed charges by $79.2 million in 2002.


(C)  

Earnings were insufficient to cover fixed charges by $4.4 million in 2001.