EX-12 2 ex12.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,
  
 
  
2006
  
2005
  
           
EARNINGS
          
Pre-tax income (loss)
  
$
3,981
  
$
(26,218
)
Fixed charges
    
4,188
   
4,288
 
Total
  
$
8,169
  
$
(21,930
)
               
FIXED CHARGES
              
Interest expense and amortization of debt discount
              
and premium on all indebtedness
  
$
3,873
  
$
3,969
  
Interest portion of rental expenses
    
315
   
319
 
Total fixed charges
  
$
4,188
  
$
4,288
  
               
Ratio of earnings to fixed charges
    
2.0 x
    
(a
)
               
(a) Earnings were insufficient to cover fixed charges by $26.2 million for the three months ended March 31, 2005.