EX-12 8 ex12.htm EXHIBIT 12 Exhibit 12
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)

 

   
For the nine months ended   
  
   
September 30,   
  
 
  
2005
  
 2004
  
            
EARNINGS
           
Pre-tax income (loss)
  
$
(24,914
)
$
18,923
  
Fixed charges
    
13,101
   
9,923
 
Total
  
$
(11,813
)
$
28,846
  
               
FIXED CHARGES
              
Interest expense and amortization of debt discount
              
and premium on all indebtedness
  
$
12,114
  
$
8,872
  
Interest portion of rental expenses
    
987
   
1,051
 
Total fixed charges
  
$
13,101
  
$
9,923
  
               
               
Ratio of earnings to fixed charges
    
(a
)
  
2.9 x
  
               
               
(a) Earnings were insufficient to cover fixed charges by $24.9 million for the nine months
              
ended September 30, 2005.