EX-12.1 2 dex121.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios

Exhibit 12.1

 

Computation of Ratios of Earnings to Fixed Charges

(dollars in thousands)

 

Ratio of Earnings to Fixed Charges:

 

     For the Year Ended December 31,

   For the Nine Months Ended
September 30,


     1999

   2000

   2001

   2002

    2003

   2003

    2004

Interest expense

   $ 993    $ 2,092    $ 2,319    $ 10,322     $ 14,849    $ 10,786     $ 12,295

Capitalized interest

     —        —        —        —         —        —         —  

Amortization of premiums, discounts and capitalized expenses related to indebtedness

     195      310      185      1,031       2,375      1,713       1,486

Estimated interest portion of rental expense

     7,115      7,286      6,961      7,378       9,518      7,138       7,240
    

  

  

  


 

  


 

Fixed charges

   $ 8,303    $ 9,688    $ 9,465    $ 18,731     $ 26,742    $ 19,637     $ 21,021
    

  

  

  


 

  


 

Income (loss) before income taxes

   $ 2,869    $ 70,496    $ 38,871    $ (18,617 )   $ 1,129    $ (12,980 )   $ 301

Fixed charges

     8,303      9,688      9,465      18,731       26,742      19,637       21,021

Less: interest charges capitalized

     0      0      0      0       0      0       0

Amortization of capitalized interest

     0      0      0      0       0      0       0
    

  

  

  


 

  


 

Earnings (loss)

   $ 11,172    $ 80,184    $ 48,336    $ 114     $ 27,871    $ 6,657     $ 21,322
    

  

  

  


 

  


 

Ratio of earnings to fixed charges

     1.35x      8.28x      5.11x      *       1.04x      *       1.01x

* Earnings were insufficient to cover fixed charges by $18,617 and $12,980 for the year ended December 31, 2002 and for the nine months ended September 30, 2003, respectively.