Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(In thousands)
| Fiscal Year Ended December 31, | ||||||||||||||||||||||||
| 2004 | 2005 | 2006 | 2007 | 2008 | Six Months Ended June 30, 2009 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 43,420 | $ | 232 | $ | 3,051 | $ | (91,519 | ) | $ | 6,784 | $ | 4,260 | |||||||||||
Fixed charges (as defined below) | 5,866 | 6,863 | 7,545 | 15,270 | 17,739 | 8,278 | ||||||||||||||||||
Less: capitalized interest | (1,303 | ) | (2,233 | ) | (1,748 | ) | (976 | ) | (193 | ) | (4 | ) | ||||||||||||
Total earnings as adjusted | $ | 47,983 | $ | 4,862 | $ | 8,848 | $ | (77,225 | ) | $ | 24,330 | $ | 12,534 | |||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest and debt expense | $ | 4,948 | $ | 5,369 | $ | 5,263 | $ | 13,090 | $ | 15,938 | $ | 7,447 | ||||||||||||
Interest portion of rental expense | 918 | 1,494 | 2,282 | 2,180 | 1,801 | 831 | ||||||||||||||||||
Total fixed charges | $ | 5,866 | $ | 6,863 | $ | 7,545 | $ | 15,270 | $ | 17,739 | $ | 8,278 | ||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 8.18 | — | 1.17 | — | 1.37 | 1.51 | ||||||||||||||||||
DEFICIENCY OF EARNINGS AVAILABLE TO COVER FIXED CHARGES | $ | — | $ | 2,001 | $ | — | $ | 92,495 | $ | — | $ | — | ||||||||||||
II- 8
