EX-12.1 2 h19465exv12w1.txt STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
SIX MONTHS ENDED JUNE 30, YEARS ENDED DECEMBER 31, ------------------ -------------------------------------------------------- 2004 2003 2003 2002 2001 2000 1999 ------ ------ ------ ------ ------- ------ ------ Ratio of Earnings to Fixed Charges 1.42 1.72 1.36 0.97 (2.04) 1.03 1.72 Ratio of Earnings to Fixed Charges and Preferred Stock Dividends 1.42 1.72 1.36 0.97 (2.04) 1.03 1.72 Earnings Before Taxes 4,134 8,161 7,925 (760) (99,442) 869 23,209 Interest Expense 5,348 6,652 12,514 17,706 26,737 33,764 32,102 Implicit Interest: * Asian King 1,938 2,029 4,014 4,186 2,154 -- -- Hickory 208 239 462 -- -- -- -- Green Dale 802 866 1,700 1,825 475 -- -- Green Point 1,479 1,529 3,034 3,129 3,215 816 -- Green Ridge 16 26 48 68 88 17 -- Total Fixed Charges 9,791 11,341 21,772 26,914 32,669 34,597 32,102 Earnings Before Fixed Charges 13,925 19,502 29,697 26,154 (66,773) 35,466 55,311 Preferred Stock Dividends -- -- -- -- -- -- --
*assumes portion of rent deemed representative of interest is implicit interest on operating leases