EX-12.1 34 h37691exv12w1.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
                                                 
                                            Three
                                            Months
                                            Ended
    Year Ended December 31,   March 31,
(unaudited)   2001   2002   2003   2004   2005   2006
 
                                                
Earnings:
                                                
Income (loss) from continuing operations before income taxes
   $ 12,289     $ (1,612 )   $ 5,735     $ 20,916     $ 71,581     $ 31,500  
Fixed charges
     3,426       4,832       5,234       9,714       13,065       3,138  
     
Earnings
   $ 15,715     $ 3,220     $ 10,969     $ 30,630     $ 84,646     $ 34,638  
     
 
                                                
Fixed charges:
                                                
Interest expense
   $ 3,426     $ 4,832     $ 5,234     $ 9,714     $ 13,065     $ 3,138  
     
 
                                                
Ratio of earnings to fixed charges
     4.6       — (1)     2.1       3.2       6.5       11.0  
     
(1)   For the year ended December 31, 2002, our ratio of earnings to fixed charges was less than one-to-one, and our coverage deficiency was $6.4 million.