EX-12.1 5 d79762exv12w1.htm EX-12.1 exv12w1
EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
     The following table sets forth our ratio of earnings to fixed charges for the periods indicated on a consolidated basis. You should read these ratios of earnings to fixed charges in connection with our consolidated financial statements, including the notes to those statements, incorporated by reference into this prospectus.
(In thousands, except ratios)
                                                 
    Nine Months                      
    Ended                      
    September 30,             Year ended December 31,        
    2010     2009     2008     2007     2006     2005  
Earnings:
                                               
Income (Loss) before provision for income taxes
  $ 4,824     $ 4,967     $ 6,037     $ 7,450     $ (3,509 )   $ (7,646 )
(Income) Loss from equity investees
    (107 )     (270 )     37       37       37       (416 )
Plus: Fixed Charges
    19,662       24,562       26,078       27,365       26,078       19,789  
 
                                   
Total Earnings
  $ 24,379     $ 29,259     $ 32,152     $ 34,852     $ 22,606     $ 11,727  
 
                                   
 
                                               
Fixed charges:
                                               
Interest expense
  $ 8,440     $ 11,819     $ 12,217     $ 12,763     $ 16,610     $ 18,595  
Estimate of interest component of rental expense
    11,222       12,743       13,861       14,602       9,468       1,194  
 
                                   
Total Fixed Charges
  $ 19,662     $ 24,562     $ 26,078     $ 27,365     $ 26,078     $ 19,789  
 
                                   
 
                                               
Ratio of Earnings to Fixed Charges
    1.24       1.19       1.23       1.27       (1 )     (1 )
 
(1)   Earnings were insufficient to cover fixed charges by $3.5 million and $7.6 million for the years ended December 31, 2006 and 2005, respectively.
     In calculating the ratio of earnings to fixed charges, “earnings” means the sum of income before income taxes and fixed charges exclusive of capitalized interest, and “fixed charges” means interest expensed and capitalized, amortized premiums, discounts and capitalized expenses relating to indebtedness and an estimate of the portion of annual rental expense on leases that represents the interest factor.
     For the periods indicated above, we did not have any outstanding shares of preferred stock. Therefore, the ratio of earnings to combined fixed charges and preferred stock dividends are identical to the ratios presented in the above table.

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