EX-12 2 exhibit12.htm EXHIBIT 12 Exhibit 12
EXHIBIT 12
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
    (Dollar amounts in thousands)

   
For the three months ended  
  
   
March 31,  
  
 
  
2005
  
 2004
  
            
EARNINGS
           
Pre-tax income (loss)
  
$
(26,218
)
$
18,793
  
Fixed charges
    
4,288
   
3,266
 
Total
  
$
(21,930
)
$
22,059
  
               
FIXED CHARGES
              
Interest expense and amortization of debt discount
              
and premium on all indebtedness
  
$
3,969
  
$
2,939
  
Interest portion of rental expenses
    
319
   
327
 
Total fixed charges
  
$
4,288
  
$
3,266
  
               
Ratio of earnings to fixed charges
    
(a
)
  
6.8 x
  
               
(a) Earnings were insufficient to cover fixed charges by $26.2 million for the three months
             
ended March 31, 2005.