EX-12 4 b68361imexv12.htm EX-12 STATEMENT RE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exv12
 

Exhibit 12
Calculation of Ratios of Earnings to Fixed Charges
                                                         
    Nine Months Ended        
    September 30,     Year Ended December 31,  
    2007     2006     2006     2005     2004     2003     2002  
    (in thousands, except ratios)  
RATIO OF EARNINGS TO FIXED CHARGES:
                                                       
Pre-tax (loss) income from continuing operations before adjustment for
                                                       
income from equity investee
    (228,777 )     (19,255 )     (11,750 )     (12,390 )     (14,321 )     11,564       (19,192 )
 
                                         
 
                                                       
Fixed charges:
                                                       
Interest expense (a)
    56,238       20,796       26,570       21,795       22,114       9,711       15,069  
Preferred stock accretion and dividends
                            10       448       2,374  
Interest portion of rent expense (b)
    2,947       2,210       2,956       2,504       1,849       1,439       1,078  
 
                                         
 
                                                       
Total fixed charges
    59,185       23,006       29,526       24,299       23,973       11,598       18,521  
 
                                         
 
                                                       
Total earnings (loss)
    (169,592 )     3,751       17,776       11,909       9,652       23,162       (671 )
 
                                         
 
                                                       
Ratio of earnings to fixed charges
          0.2 x     0.6 x     0.5 x     0.4 x     2.0 x      
Ratio of coverage deficiency
    (c )     (c )     (c )     (c )     (c )           (c )
 
(a)   Interest expense includes the write-off and amortization of deferred financing costs and the write-off and amortization of non-cash discounts associated with our debt issuances.
 
(b)   Includes approximately one-fourth of the rent expense for each period presented which management believes is a reasonable approximation of the interest component of such rentals.
 
(c)   Due to the loss from operations for the nine months ended September 30, 2007 and 2006 and the years ended December 31, 2006, 2005, 2004, and 2002 there were insufficient earnings of $228.8 million, $19.3 million, $11.8 million, $12.4 million, $14.3 million and $19.2 million, respectively, to cover fixed charges.