EX-12.1 3 exhibit121.htm EXHIBIT 12.1 STATEMENT RE COMPUTATION exhibit121.htm
 
EXHIBIT 12.1

 
 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
(dollars in thousands)
 
 
Six months
    ended
   June 30,
            Fiscal year ended December 31,
 
      2008
    2007
    2006
    2005
     2004
    2003
Earnings:
            
   Income (loss) from continuing operations
   before income taxes
$      9,677
$    13,071
$    37,164
$    28,386
$      9,058
$      6,460
Add: Fixed charges
        4,375
      10,104
      12,925
      14,882
      16,339
      13,239
Total earnings
$    14,052
$    23,175
$    50,089
$    43,268
$    25,397
$    19,699
             
Fixed charges:
            
Interest expense
$      2,385
$      5,368
$      6,834
$      8,465
$      9,293
$      6,570
Estimate of interest within rental expense1
        1,990
        4,736
        6,091
        6,417
        7,046
        6,669
Total fixed charges
$      4,375
$    10,104
$    12,925
$    14,882
$    16,339
$    13,239
             
Ratio of Earnings to Fixed Charges
          3.21
           2.29
          3.88
           2.91
          1.55
          1.49
 
 
1Amounts represent those portions of rental expense which is deemed representative of the interest factor.