EX-12.1 2 dex121.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)

 

     For the Year Ended December 31,

    For the Six Months Ended
Ended June 30,


 
     1999

    2000

    2001

    2002

    2003

    2003

    2004

 

Ratio of Earnings to Fixed Charges:

                                                        

Interest expense

   $ 993     $ 2,092     $ 2,319     $ 10,322     $ 14,849     $ 7,056     $ 8,070  

Capitalized interest

     —         —         —         —         —         —         —    

Amortization of premiums, discounts and capitalized expenses related to indebtedness

     195       310       185       1,031       2,375       918       956  

Estimated interest portion of rental expense

     7,115       7,286       6,961       7,378       9,518       4,759       4,826  
    


 


 


 


 


 


 


Fixed charges

   $ 8,303     $ 9,688     $ 9,465     $ 18,731     $ 26,742     $ 12,733     $ 13,852  
    


 


 


 


 


 


 


Income (loss) before income taxes

   $ 2,869     $ 70,496     $ 38,871     $ (18,617 )   $ 1,129     $ 9,591     $ 7,351  

Fixed charges

     8,303       9,688       9,465       18,731       26,742       12,733       13,852  

Less: interest charges capitalized

     0       0       0       0       0       0       0  

Amortization of capitalized interest

     0       0       0       0       0       0       0  
    


 


 


 


 


 


 


Earnings (loss)

   $ 11,172     $ 80,184     $ 48,336     $ 114     $ 27,871     $ 22,324     $ 21,203  
    


 


 


 


 


 


 


Ratio of earnings to fixed charges

     1.35 x     8.28 x     5.11 x     *       1.04 x     1.75 x     1.53 x

 

* Earnings are inadequate to cover fixed charges in these periods. Earnings were insufficient to cover fixed charges by $18,617 for the year ended December 31, 2002.