EX-12 3 ex12.htm EXHIBIT 12 ex12.htm
EXHIBIT 12
 
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)
 
   
For the Six Months Ended
  
   
June 30,   
  
   
2007
    
2006
  
             
EARNINGS
            
Pre-tax income
   $
6,056
     $
2,974
  
Fixed charges
    
6,328
      
8,289
  
Total
   $
12,384
     $
11,263
  
                 
FIXED CHARGES
                
Interest expense and amortization of debt discount
                
     and premium on all indebtedness
   $
5,659
     $
7,646
  
Interest portion of rental expenses
    
669
      
643
  
Total fixed charges
   $
6,328
     $
8,289
  
                 
                 
Ratio of earnings to fixed charges
    
2.0 x
      
1.4 x