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EXHIBIT 12.1
Computation of Ratio of Earnings to Fixed Charges
Year ended December 31,
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1994 1995 1996 1997 1998
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(dollars in thousands)
Fixed Charges:
Interest on debt and capitalized leases $ 2,452 $ 3,471 $ 3,168 $ 3,986 $16,864
Interest element of rentals 962 1,011 1,057 1,517 5,083
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Total $ 3,414 $ 4,482 $ 4,225 $ 5,503 $ 21,947
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Earnings:
Pretax Income $ 2,921 $ 4,379 $ 5,589 $ 6,391 $ 35,221
Addback: fixed charges 3,414 4,482 4,225 5,503 21,947
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Total $ 6,335 $ 8,861 $ 9,814 $ 11,894 $ 57,168
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Ratio of Earnings to Fixed Charges 1.86 1.98 2.32 2.16 2.60
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Three Months ended March 31,
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1999
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Fixed Charges:
Interest on debt and capitalized leases $ 5,643
Interest element of rentals 1,847
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Total $ 7,490
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Earnings:
Pretax Income $ 10,228
Addback: fixed charges 7,490
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Total $ 17,718
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Ratio of Earnings to Fixed Charges 2.37
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