EX-12.1 5 exhibit12_1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12

Exhibit 12.1


STATEMENT REGARDING COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES


The following table sets forth our ratio of earnings to fixed charges and our deficiency.



                                                                         

 

Quarter

 

 

 

 

 

 

 

 

(amounts in thousands, except ratios)

 

Ending

 

For the Years Ended December 31,

 

 

March 28, 2009

 

2008

 

2007

 

2006

 

2005

 

2004

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before (benefit) provision for income taxes

 

$  25,792

 

 $   (85,762)

 

 $    71,454

 

 $      2,311

 

 $      69

 

 $    9,891

Equity in loss of joint venture

 

-

 

           330

 

           387

 

           663

 

           534

 

           795

Fixed Charges

 

2,972

 

        15,619

 

        15,746

 

        15,296

 

       13,888

 

       13,395

Total

 

$  28,764

 

 $   (69,813)

 

 $    87,587

 

 $    18,270

 

 $    14,491

 

 $    24,081

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense (a)

 

$   2,567

 

 $      13,355

 

 $      13,781

 

 $      13,265

 

 $      12,819

 

 $    12,404

Estimate of interest component of rent expense

 

405

 

        2,264

 

        1,965

 

         2,031

 

        1,069

 

           991

Total Fixed Charges

 

$   2,972

 

 $     15,619

 

 $     15,746

 

 $     15,296

 

 $     13,888

 

 $    13,395

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

9.68X

 

N/A

 

5.56X

 

1.19X

 

1.04X

 

1.80X

Deficiency

 

N/A

 

$  (85,432)

 

N/A

 

N/A

 

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Interest expense has been adjusted for the adoption of Financial Accounting Standards Board Staff Position No. APB 14-1, Accounting for Convertible Debt Instruments That May Be Settled in Cash Upon Conversion (Including Partial Cash Settlement) (“FSP APB 14-1”).  FSP APB 14-1 was effective as of January 1, 2009, with retrospective application required.