EX-12.1 2 b51998paexv12w1.txt EX-12.1 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES Set forth below is information concerning our ratio of earnings to fixed charges on a consolidated basis for the period indicated. This ratio shows the extent to which our business generates enough earnings after the payment of all expenses other than interest to make the required interest payments on the notes. For the purposes of computing the ratios of earnings to fixed charges, "earnings" consist of income before taxes and fixed charges. "Fixed charges" consist of interest on all indebtedness and an interest factor attributable to rentals.
FISCAL YEAR ENDED NINE MONTHS ENDED ----------------- ----------------- DECEMBER 31, SEPTEMBER 30, --------------------------------------------------- ----------------- (IN THOUSANDS, EXCEPT PER RATIOS) 1999 2000 2001 2002 2003 2003 2004 FIXED CHARGES: Interest expensed 40 34 - 17 185 19 1,944 Amortization of debt expense - - - - 59 - 519 Estimate of interest within rental expenses 901 921 1,451 1,512 1,575 1,180 1,221 ------ ----- ----- ------- ------- ----- ----- Total Fixed Charges 941 955 1,451 1,529 1,819 1,199 3,684 ====== ===== ====== ======= ======= ===== ===== EARNINGS Pre-tax gain (loss) from continuing operations 10,481 1,573 (10,707) 2,769 5,655 2,870 94 Fixed charges 941 955 1,451 1,529 1,819 1,199 3,684 ------ ----- ----- ------- ------- ----- ----- Total earnings (loss) for computation of ratio 11,422 2,528 (9,256) 4,298 7,474 4,069 3,778 ====== ===== ====== ======= ======= ===== ===== RATIO OF EARNINGS TO FIXED CHARGES 12.1 2.6 -- 2.8 4.1 3.4 1.0
The pre-tax loss from continuing operations for the year ended December 31, 2001 is not sufficient to cover fixed charges by a total of approximately $10.7 million. As a result, the ratio of earnings to fixed charges has not been computed for this period.