EX-12.1 4 dex121.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

Exhibit 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

For the Years Ended December 31, 2006, 2005 and 2004

(in thousands)

 

     For the Years Ended December 31,  
     2006    2005    2004  

Net income (loss) before taxes

    $ 24,547    $ 5,236    $ (28,629 )

Add: Fixed charges, net capitalized interest

      10,739      10,558      11,520  
                      

Earnings (loss) before fixed charges

      35,286      15,794      (17,109 )
                      

Fixed charges:

         

Interest expense including amortization of debt issuance costs

    $ 10,739    $ 10,558    $ 11,520  

Capitalized interest

      —        —        —    
                      

Total fixed charges

      10,739      10,558      11,520  
                      

Ratio of earnings to fixed charges(1)

      3.3 : 1      1.5 : 1      —    
                      

(1)

In 2004, the Company had a deficiency of earnings, net of taxes, compared to its fixed charges of $28,629.