EX-12 16 ex12.htm EXHIBIT 12 Unassociated Document
 
EXHIBIT 12


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollar amounts in thousands)

                           
                           
       
2006
 
2005
 
2004
 
2003
 
2002
  
 
                          
EARNINGS
                          
Pre-tax income (loss)
        
$
6,582
  
$
(27,015
)
$
3,945
  
$
(67,746
)
$
(79,157
)
Fixed charges
          
14,808
   
17,433
   
13,638
   
11,205
   
4,611
 
Total
       
$
21,390
  
$
(9,582
)
$
17,583
  
$
(56,541
)
$
(74,546
)
                                       
FIXED CHARGES
                                      
Interest expense and amortization of
                                      
     debt discount and premium on all
                                      
     indebtedness
        
$
13,521
  
$
16,111
  
$
12,354
  
$
9,887
  
$
3,257
  
Interest portion of rental expense
          
1,287
   
1,322
   
1,284
   
1,318
   
1,354
 
Total fixed charges
       
$
14,808
  
$
17,433
  
$
13,638
  
$
11,205
  
$
4,611
  
                                       
Ratio of earnings to fixed
                                      
charges
         
1.4x
    
(A
)
  
1.3x
    
(A
)
  
(A
)
                                       


(A)  
Earnings were insufficient to cover fixed charges by $27.0 million, $67.7 million and $79.2 million in 2005, 2003 and 2002, respectively.