Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in thousands of dollars)
Six Months Ended
Year Ended December 31, June 30,
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1998 1999
Pro Pro
1994 1995 1996 1997 1998 Forma 1998 1999 Forma
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Pre-tax income (loss)
from continuing
operations............. $4,029 $4,455 $4,348 $4,365 $ 601 $12,298 $3,098 $ 4,457 $ 8,782
Rental expense--20% of
total................ 156 209 223 226 326 1,508 124 612 754
Interest expense...... 77 106 722 841 6,519 20,692 653 8,283 10,345
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Adjusted income......... $4,262 $4,770 $5,293 $5,432 $7,446 $34,498 $3,875 $13,352 $19,881
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Fixed Charges:
Interest expense and
amortization of debt
discount/premium..... $ 77 $ 106 $ 722 $ 841 $6,519 $20,692 $ 653 $ 8,283 $10,345
Rental expense--20% of
total................ 156 209 223 226 326 1,508 124 612 754
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Total applicable
fixed charges....... $ 233 $ 315 $ 945 $1,067 $6,845 $22,200 $ 777 $ 8,895 $11,099
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Ratio of earnings to
fixed charges.......... 18.29 15.14 5.60 5.09 1.09 1.55 4.99 1.50 1.79
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