EX-12.1 4 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 Three Months
Ended March 31,
 
     2001     2002     2003     2004     2005     2005     2006  

Interest expense

   $ 2,319     $ 10,322     $ 14,849     $ 16,587     $ 21,124     $ 4,503     $ 11,047  

Capitalized interest

     —         —         —         —         —         —         —    

Amortization of premiums, discounts and capitalized expenses related to indebtedness

     185       1,031       2,375       2,032       2,372       528       2,660  

Estimated interest portion of rental expense

     6,961       7,378       9,518       9,653       10,576       2,644       2,644  
                                                        

Fixed charges

   $ 9,465     $ 18,731     $ 26,742     $ 28,272     $ 34,072     $ 7,675     $ 16,351  
                                                        

Income (loss) before income taxes

   $ 38,871     $ (18,617 )   $ 1,129     $ 28,944     $ 13,294     $ (4,466 )   $ (11,048 )

Fixed charges

     9,465       18,731       26,742       28,272       34,072       7,675       16,351  

Less: interest charges capitalized

     —         —         —         —         —         —         —    

Amortization of capitalized interest

     —         —         —         —         —         —         —    
                                                        

Earnings

   $ 48,336     $ 114     $ 27,871     $ 57,216     $ 47,366     $ 3,209     $ 5,303  
                                                        

Ratio of earnings to fixed charges

     5.11 x       *     1.04 x     2.02 x     1.39 x     0.42 x     0.32 x

 

* Earnings were insufficient to cover fixed charges by $18,617 for the year ended December 31, 2002.