EX-12 4 c60771ex12.txt STATEMENT RE COMPUTATION OF RATIOS 1 EXHIBIT 12 COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES (in thousands)
Year Ended December 31, ----------------------------------------------------- 1995 1996 1997 1998 1999 EARNINGS Pre-tax income (loss)......................... $ (2,389) $ 1,576 $ 6,361 $ 7,798 $ 23,816 Add: fixed charges........................... 1,194 1,523 1,964 8,504 43,559 --------- --------- ---------- --------- --------- Total earnings..................................... $ (1,195) $ 3,099 $ 8,325 $ 16,302 $ 67,375 ========= ========= ========= ========= ========= FIXED CHARGES Interest expense.............................. $ 373 $ 428 $ 777 $ 6,195 $ 39,785 Rent expense included in fixed charges........ 821 1,095 1,169 2,309 3,774 --------- --------- --------- --------- --------- Total fixed charges................................ $ 1,194 $ 1,523 $ 1,946 $ 8,504 $ 43,559 ========= ========= ========= ========= ========= RATIO OF EARNINGS TO FIXED CHARGES................. --* 2.0 4.3 1.9 1.6
* For the year ended December 31, 1996, earnings were insufficient to cover fixed charges by approximately $50.