1
EXHIBIT 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
PREDECESSOR COMPANY
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PERIOD FROM
YEAR ENDED DECEMBER 31, JANUARY 1, 1995
--------------------------- THROUGH
1992 1993 1994 APRIL 20, 1995
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(DOLLARS IN THOUSANDS, EXCEPT RATIOS)
Ratio of earnings to fixed charges
Consolidated pretax income from continuing
operations...................................... $ 4,346 $ 542 $ 8,388 $11,621
Equity pickup of less than 50% owned affiliates... (26) (1,149) (183) (204)
Interest.......................................... 8,189 7,551 6,407 1,665
Interest portion of rental expense................ 2,467 2,753 2,814 692
Amortization of debt financing costs.............. 920 933 944 453
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Earnings.......................................... $15,896 $10,630 $18,370 $14,227
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Interest.......................................... $ 8,189 $ 7,551 $ 6,407 $ 1,665
Interest portion of rental expense................ 2,467 2,753 2,814 692
Amortization of debt financing costs.............. 920 933 944 453
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Fixed charges..................................... $11,576 $11,237 $10,165 $ 2,810
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Ratio of earnings to fixed charges................ 1.37 -- 1.81 5.1
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Deficiency........................................ $ 607
PERIOD FROM
INCEPTION NINE MONTHS
THROUGH YEAR ENDED ENDED
DECEMBER 31, DECEMBER 31, SEPTEMBER 30,
1995 1996 1997
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(DOLLARS IN THOUSANDS, EXCEPT RATIOS)
Ratio of earnings to fixed charges
Consolidated pretax income (loss) from continuing
operations........................................... $12,629 $14,846 $ 81
Equity pickup of less than 50% owned affiliates........ -- (713) 883
Interest............................................... 12,905 17,290 16,189
Interest portion of rental expense..................... 1,572 3,107 2,032
Amortization of debt financing costs................... 465 636 616
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Earnings............................................... $27,571 $35,166 $19,801
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Interest............................................... $12,905 $17,290 $16,189
Interest portion of rental expense..................... 1,572 3,107 2,032
Amortization of debt financing costs................... 465 636 616
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Fixed charges.......................................... $14,942 $21,033 $18,837
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Ratio of earnings to fixed charges..................... 1.8 1.7 1.1
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