EX-12 4 exhibit12earningstofixedchar.htm SEC FORM 10-K / EXHIBIT 12 Converted by EDGARwiz


Exhibit 12




RATIO OF EARNINGS TO FIXED CHARGES



 

2005

2004

2003

2002

2001

 

(In thousands, except ratio data)

Income before income taxes

$

7,621

$

7,527

$

11,160

$

10,802

$

3,468

      

Interest on indebtedness

8,016

7,137

6,813

7,952

11,311

      

Portion of rents representative

     

of the interest factor

1,161

1,106

1,046

949

883

      

Earnings as adjusted

$

16,798

$

15,770

$

19,019

$

19,703

$

15,662

      
      

Fixed charges:

     
      

Interest on indebtedness

$

 8,016

$

 7,137

$

6,813

$

7,952

$

11,311

      

Portion of rents representative

     

of the interest factor

1,161

1,106

1.046

949

883

      

Fixed charges

$

 9,177

$

 8,243

$

7,859

$

8,901

$

12,194

      
      

Ratio of earnings

     

to fixed charges

1.83

1.91

2.42

2.01

1.28