EX-12.1 4 dex121.htm EXHIBIT 12.1 Exhibit 12.1

 

Exhibit 12.1

 

Statement Regarding Computation of Ratio of Earnings to Fixed Charges and

Earnings to Combined Fixed Charges and Preferred Stock Dividends

(in thousands)

 

    

Three

Months ended

    Years ended December 31,
  
       March 31, 2004      2003      2002       2001       2000       1999  
    
  
  
 
 
 

Pretax income from continuing operations

    $ 5,391    $ 16,231    $ (12,045 )   $ (56 )   $ (48,385 )   $ (34,253 )

Add Fixed charges

      1,965      7,765      6,868       9,750       11,079       11,353  
    
  
  
 
 
 

Adjusted pretax income

      7,356      23,996      (5,177 )     9,694       (37,306 )     (22,900 )

Less: Pre-tax Minority interest

      —        —        (100 )     —         —         —    
    
  
  
 
 
 

Earnings as defined

    $ 7,356    $ 23,996    $ (5,277 )   $ 9,694     $ (37,306 )   $ (22,900 )

Fixed charges:

                                               

Interest expense

      1,836      7,216      6,253       9,386       10,760       10,875  

Estimated interest on rent expense

      129      549      615       364       319       478  
    
  
  
 
 
 

Total fixed charges

      1,965      7,765      6,868       9,750       11,079       11,353  

Ratio of Earnings to Fixed Charges

      3.74      3.09      (0.77 )     0.99       (3.37 )     (2.02 )

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

      3.74      3.09      (0.77 )     0.99       (3.37 )     (2.02 )

Deficiency of Earnings Available to Cover Fixed Charges

    $ —      $ —      $ (12,145 )   $ —       $ (48,385 )   $ (34,253 )