Exhibit 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (amounts in thousands of dollars) Actual Actual Actual Actual Actual Pro Forma 1994 1995 1996 1997 1998 1998 ------ ------ ------ ------ ------ --------- Pre-tax income (loss) from continuing operations............ $4,029 $4,455 $4,348 $4,365 $ 601 $ 4,443 Rent............................ 780 1,043 1,116 1,131 1,630 3,296 Interest expense................ 77 106 722 841 6,519 17,577 ------ ------ ------ ------ ------ ------- Adjusted income................... $4,886 $5,604 $6,186 $6,337 $8,750 $25,316 ====== ====== ====== ====== ====== ======= Fixed Charges: Interest expense and amortization of debt discount/premium............... $ 77 $ 106 $ 722 $ 841 $6,519 $17,577 Rental expense--20% of total.... 156 209 223 226 326 659 ------ ------ ------ ------ ------ ------- Total applicable fixed charges...................... $ 233 $ 315 $ 945 $1,067 $6,845 $18,236 ====== ====== ====== ====== ====== ======= Ratio of earnings to fixed charges.......................... 20.97 17.81 6.54 5.94 1.28 1.39 ====== ====== ====== ====== ====== =======