Exhibit 12
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The table below sets forth our ratio of earnings to fixed charges on a historical basis for the periods indicated. The information set forth in the table should be read in conjunction with the financial information incorporated by reference into this prospectus.
| Twelve Months ended 12/31/2013 | Twelve Months ended 12/31/2012 | Twelve Months ended 12/31/2011 | Twelve Months ended 12/31/2010 | Twelve Months ended 12/31/2009 | ||||||||||||||||
| Interest expense | $ | 3,508,000 | $ | 2,307,000 | $ | 907,000 | $ | 1,661,000 | $ | - | ||||||||||
| Pre tax Income (loss) | $ | (19,639,000 | ) | $ | 929,000 | $ | 753,000 | $ | 18,720,000 | (3,092,000 | ) | |||||||||
| Total earnings | $ | (16,131,000 | ) | $ | 3,236,000 | $ | 1,660,000 | $ | 20,381,000 | (3,092,000 | ) | |||||||||
| Ratio of earnings to fixed charges | (4.6 | ) | 1.4 | 1.8 | 12.3 | N/A | ||||||||||||||
The ratios are calculated by dividing earnings by fixed charges. For the purposes of computing the ratio of earnings to fixed charges, earnings consist of pretax income from continuing operations plus fixed charges. Fixed charges consist of interest expensed.
We had no shares of preferred stock outstanding for any period presented.
