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 nine months ended  
  
   
September 30,  
  
 
  
2006
  
 2005
  
            
EARNINGS
           
Pre-tax income (loss)
  
$
5,684
  
$
(24,914
)
Fixed charges
    
11,649
   
13,101
 
Total
  
$
17,333
  
$
(11,813
)
FIXED CHARGES
              
Interest expense and amortization of debt discount
              
and premium on all indebtedness
  
$
10,685
  
$
12,114
 
Interest portion of rental expenses
    
964
   
987
 
Total fixed charges
  
$
11,649
  
$
13,101
 
               
Ratio of earnings to fixed charges
    
1.5 x
    
(a
)
 
(a) Earnings were insufficient to cover fixed charges by $24.9 million for the nine months ended September 30, 2005.