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Content analysis
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Exhibit 12
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(dollars in thousands, except ratios)
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| 145 Day Period |
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| 37 Day Period from |
| Twenty-six |
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| (Successor) |
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| (Predecessor) |
| (Predecessor) |
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Income before provision for income taxes |
| $ | (9,248 | ) |
| $ | 908 |
| $ | 5,207 |
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Add: Total fixed charges (per below) |
| 17,018 |
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| 1,832 |
| 9,477 |
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Less: Capitalized interest |
| 80 |
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| 70 |
| 93 |
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Total income before provision for income taxes, plus fixed charges, less capitalized interest |
| 7,690 |
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| 2,670 |
| 14,591 |
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Fixed charges: |
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Interest expense (1) |
| 10,578 |
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| 688 |
| 3,682 |
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Bridge funding fee |
| 1,313 |
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Capitalized interest |
| 80 |
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| 70 |
| 93 |
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Estimate of interest included in rental expense (2) |
| 5,047 |
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| 1,074 |
| 5,702 |
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Total fixed charges |
| $ | 17,018 |
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| $ | 1,832 |
| $ | 9,477 |
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Ratio of earnings to fixed charges (3) |
| 0.45 | x |
| 1.46 | x | 1.54 | x | |||
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(1) Interest expense includes interest in association with debt and amortization of debt issuance costs.
(2) Fixed charges include our estimate of interest included in rental payments (one-third of rent expense under operating leases.
(3) Earnings for the 145 day period ended July 30, 2006 (Successor) were insufficient to cover the fixed charges by $9,328.