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EXHIBIT 12.1
Computation of Ratio of Earnings to Fixed Charges
Year ended December 31,
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1993 1994 1995 1996 1997
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(dollars in thousands)
Fixed Charges:
Interest on debt and capitalized leases $ 1,433 $ 2,452 $ 3,471 $ 3,168 $ 3,986
Interest element of rentals 865 962 1,011 1,057 1,517
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Total $ 2,298 $ 3,414 $ 4,482 $ 4,225 $ 5,503
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Earnings:
Pretax Income $ 2,942 $ 2,921 $ 4,379 $ 5,589 $ 6,391
Addback: fixed charges 2,298 3,414 4,482 4,225 5,503
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Total $ 5,240 $ 6,335 $ 8,861 $ 9,814 $ 11,894
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Ratio of Earnings to Fixed Charges 2.28 1.86 1.98 2.32 2.16
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Nine Months ended September 30,
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1998
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Fixed Charges:
Interest on debt and capitalized leases $ 11,699
Interest element of rentals 3,693
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Total $ 15,392
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Earnings:
Pretax Income $ 25,973
Addback: fixed charges 15,392
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Total $ 41,365
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Ratio of Earnings to Fixed Charges 2.69
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