EX-12 2 ex12.htm EXHIBIT 12 ex12.htm
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)


   
For the Nine Months Ended
  
   
September 30,   
  
   
2007
    
2006
  
             
EARNINGS
            
Pre-tax income (loss)
   $ (7,510 )   $
5,684
  
Fixed charges
    
9,714
      
11,649
  
Total
   $
2,204
     $
17,333
  
                 
FIXED CHARGES
                
Interest expense and amortization of debt discount
                
and premium on all indebtedness
   $
8,734
     $
10,685
  
Interest portion of rental expenses
    
980
      
964
  
Total fixed charges
   $
9,714
     $
11,649
  
                 
                 
Ratio of earnings to fixed charges
  
(a)
      
1.5 x
  
                 
                 
                 
(a) Earnings were insufficient to cover fixed charges by $7.5 million for the nine months ended September 30, 2007.