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Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
Years Ended December 31, | ||||||||||||||||
(in thousands, except ratio of earnings to fixed charges) | 2002 As restated (2) | 2003 As restated (2) | 2004 As restated (2) | 2005 As restated (2) | 2006 | |||||||||||
Income (loss) from continuing operations before income taxes | $ | 13,783 | $ | 34,776 | $ | 21,311 | $ | (4,469 | ) | $ | 41,531 | |||||
Fixed charges: | ||||||||||||||||
Interest expense (including capitalized interest) | 22 | 2,886 | 5,632 | 5,010 | 5,028 | |||||||||||
Interest relating to rental expense(1) | 2,856 | 2,141 | 2,584 | 4,079 | 5,790 | |||||||||||
Total fixed charges | 2,878 | 5,027 | 8,216 | 9,089 | 10,818 | |||||||||||
Earnings available for fixed charges | $ | 16,661 | $ | 39,803 | $ | 29,527 | $ | 4,620 | $ | 52,349 | ||||||
Ratio of earnings to fixed charges | 5.79 | 7.92 | 3.59 | 0.51 | 4.84 | |||||||||||
(1) | The representative interest portion of rental expense was deemed to be one- third of all rental expense, except for the rental expense related to the off-balance sheet financing leases, as described in the footnotes to the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2006 which was deemed to be all interest. |
(2) | See Note 2, “Restatement of Consolidated Financial Statements” to Consolidated Financial Statements. |