EX-12.1 2 exhibit12-1.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exhibit12-1.htm
EXHIBIT 12.1
 
                               
                               
Ratio of Earnings to Fixed Charges
                             
                               
                               
   
Year Ended December 31,
 
   
2005
   
2006
   
2007
   
2008
   
2009
 
   
(Dollars in Thousands)
 
Income (Loss) from Continuing Operations
  $ 3,468     $ 3,020     $ 2,922     $ (27,763 )   $ 1,008  
Plus: Income Taxes
    2,248       2,313       2,343       (13,737 )     2,958  
         Fixed Charges
    10,676       17,093       18,259       19,594       18,794  
Earnings Available for Fixed Charges
    16,392       22,426       23,524       (21,906 )     22,760  
                                         
Fixed Charges:
                                       
   Interest Expense
    10,273       16,687       17,837       18,918       18,083  
   Estimate Portion of Rental Expense Equivalent to Interest
    403       406       422       676       711  
Total Fixed Charges
    10,676       17,093       18,259       19,594       18,794  
                                         
Ratio of Earnings to Fixed Charges
    1.5       1.3       1.3       -1.1       1.2  
                                         
Calculation of Rental Expense Equivalent to Interest
                                       
Rental Expense
    1,209       1,217       1,265       2,028       2,132  
Estimated % Equivalent to Interest
    33.3 %     33.3 %     33.3 %     33.3 %     33.3 %
Estimate Portion of Rental Expense Equivalent to Interest
    403       406       422       676       711