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EXHIBIT 12
RATIO OF EARNINGS TO FIXED CHARGES
1997-2001
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1997 1998 1998PF 1999
------------------- ------------------- ------------------- --------
(YEAR ENDED DECEMBER 31)
Fixed Charges
Interest expense.................................... 3,922 4,108 11,400
Capitalized interest................................ -- -- --
Amortization of deferred financing costs............ 524 1,954 849
------ ------ ------
TOTAL FIXED CHARGES................................. 4,446 6,062 12,249
====== ====== ======
Earnings
Income before income taxes and extraordinary
items............................................. (2,162) 6,493 842
Fixed Charges per above............................. 4,446 6,062 12,249 13,788
less interest capitalized........................... -- 4,446 -- 6,062 -- 12,249 --
------ ------ ------
Total Earnings...................................... 2,284 12,555 13,091
====== ====== ======
Deficit of earnings to fixed charges................ (2,162) N/A N/A
Ratio of earnings to fixed charges.................. N/A 2.07 1.07
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1999 2000 2001 2001PF
-------- ------------------- ------------------- -------------------
(YEAR ENDED DECEMBER 31)
Fixed Charges
Interest expense.................................... 12,025 13,599 12,880 15,401
Capitalized interest................................ -- -- 763 --
Amortization of deferred financing costs............ 1,763 2,068 2,654 690
------ ------ ------ ------
TOTAL FIXED CHARGES................................. 13,788 15,667 16,297 16,091
====== ====== ====== ======
Earnings
Income before income taxes and extraordinary
items............................................. 3,502 (6,798) (5,993) (3,798)
Fixed Charges per above............................. 15,667 16,297 16,091
less interest capitalized........................... 13,788 -- 15,667 (763) 15,534 -- 16,091
------ ------ ------ ------
Total Earnings...................................... 17,290 8,869 9,541 12,293
====== ====== ====== ======
Deficit of earnings to fixed charges................ N/A (6,798) (6,756) (3,798)
Ratio of earnings to fixed charges.................. 1.25 N/A N/A N/A
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2002-Q1
-------------------
(THREE
MONTHS
ENDED
MARCH 31)
Fixed Charges
Interest expense.................................... 2,400
Capitalized interest................................ 256
Amortization of deferred financing costs............ 563
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TOTAL FIXED CHARGES................................. 3,219
======
Earnings
Income before income taxes and extraordinary
items............................................. (2,888)
Fixed Charges per above............................. 3,219
less interest capitalized........................... (256) 2,963
------
Total Earnings...................................... 75
======
Deficit of earnings to fixed charges................ (3,144)
Ratio of earnings to fixed charges.................. N/A
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