Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
YEAR ENDED DECEMBER 31
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1997 1996 1995 1994 1993
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(in thousands)
Earnings from continuing operations before
income taxes $ 2,168 $ 3,903 $10,406 $12,776 $ 6,006
Add back:
Interest expense 16,470 15,999 5,040 2,905 4,370
Amortization of deferred financing costs 551 764 520 131 173
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Earnings available for fixed charges $19,189 $20,666 $15,966 $15,812 $10,549
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Fixed charges:
Interest expense $16,470 $15,999 $ 5,040 $ 2,905 $ 4,370
Amortization of deferred financing costs 551 764 520 131 173
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Total fixed charges $17,021 $16,763 $ 5,560 $ 3,036 $ 4,543
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Ratio of earnings to fixed charges 1.13 1.23 2.87 5.21 2.32
Note: The ratio of earnings to fixed charges is computed by dividing earnings
available for fixed charges by total fixed charges.