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 six months ended  
  
   
June 30,  
 
 
 
2006
 
 2005
  
               
EARNINGS
              
Pre-tax income (loss)
  
$
2,974
  
$
(26,130
)
Fixed charges
    
8,289
   
8,662
 
Total
  
$
11,263
  
$
(17,468
)
               
FIXED CHARGES
              
Interest expense and amortization of debt discount
              
and premium on all indebtedness
  
$
7,646
  
$
8,009
 
Interest portion of rental expenses
    
643
   
653
 
Total fixed charges
  
$
8,289
  
$
8,662
 
               
Ratio of earnings to fixed charges
    
1.4 x
    
(a
)
               
(a) Earnings were insufficient to cover fixed charges by $26.1 million for the six months ended June 30, 2005.