EX-21.1 8 dex211.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios

Exhibit 12.1

 

Computation of Ratios of Earnings to Fixed Charges

(dollars in thousands)

 

Ratio of Earnings to Fixed Charges:

 

     For the Year Ended December 31,

   

For the Six Months

Ended Ended June 30,


 
     1998

    1999

    2000

    2001

    2002

    2002

    2003

 

Interest expense

   $ 768     $ 993     $ 2,092     $ 2,319     $ 10,322     $ 1,259     $ 7,056  

Capitalized interest

     —         —         —         —         —         —         —    

Amortization of premiums, discounts and capitalized expenses related to indebtedness

     166       195       310       185       1,031       244       918  

Estimated interest portion of rental expense

     7,201       7,115       7,286       6,961       7,378       3,689       4,759  
    


 


 


 


 


 


 


Fixed charges

   $ 8,135     $ 8,303     $ 9,688     $ 9,465     $ 18,731     $ 5,192     $ 12,733  
    


 


 


 


 


 


 


Income (loss) before income taxes

   $ 21     $ 2,869     $ 70,496     $ 38,871     $ (18,617 )   $ (33,261 )   $ 9,591  

Fixed charges

     8,135       8,303       9,688       9,465       18,731       5,192       12,733  

Less: interest charges capitalized

     0       0       0       0       0       0       0  

Amortization of capitalized interest

     0       0       0       0       0       0       0  
    


 


 


 


 


 


 


Earnings (loss)

   $ 8,156     $ 11,172     $ 80,184     $ 48,336     $ 114     $ (28,069 )   $ 22,324  
    


 


 


 


 


 


 


Ratio of earnings to fixed charges

     1.00 x     1.35 x     8.28 x     5.11 x     *       *       1.75 x

 

* Earnings are inadequate to cover fixed charges in these periods. Earnings were insufficient to cover fixed charges by $18,617 and $33,261 for the year ended December 31, 2002 and six months ended June 30, 2003, respectively.