EX-12 2 ex12.htm EXHIBIT 12
 


EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)
 
   
For the Three Months Ended  
  
   
March 31,  
  
 
  
2007
  
 2006
  
            
EARNINGS
              
Pre-tax income
  
$
5,246
  
$
3,981
 
Fixed charges
    
3,152
   
4,188
 
Total
  
$
8,398
  
$
8,169
 
FIXED CHARGES
              
Interest expense and amortization of debt discount
              
and premium on all indebtedness
  
$
2,816
  
$
3,873
 
Interest portion of rental expenses
    
336
   
315
 
Total fixed charges
  
$
3,152
  
$
4,188
 
               
Ratio of earnings to fixed charges
    
2.7 x
    
2.0 x