1
EXHIBIT 12
RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
FOR THE QUARTERS ENDED
FOR THE YEARS ENDED DECEMBER 31, ----------------------
---------------------------------------------------- MARCH 30, MARCH 29,
1993 1994 1995 1996 1997 1997 1998
----- ------ ----- ------ ------- --------- ---------
Earnings:
Pre-tax income (loss)(1) 4,186 (7,285) (582) (13,703) (10,580) (2,799) (2,204)
Fixed charges(2) 7,725 12,574 15,712 22,724 26,232 6,031 7,028
Less: capitalized interest -- (964) (7) (1,814) -- -- --
------ ----- ------ ----- ------ ------ ------
Earnings available for fixed charges 11,911 4,325 15,123 7,207 15,652 3,232 4,824
====== ===== ====== ===== ====== ====== ======
Ratio of earnings to fixed charges 1.5 (3) (3) (3) (3) (3) (3)
====== ===== ====== ===== ====== ====== ======
- ----------------------------
(1) Excludes the equity in net losses of unconsolidated affiliates.
(2) Includes interest expense, amortization of debt issue costs and capitalized
interest.
(3) Earnings were insufficient to cover fixed charges by $8,249, $590, $15,517
and $10,580 for the years ended December 31, 1994, 1995, 1996 and 1997,
respectively, by $2,799 for the quarter ended March 30, 1997 and $2,204 for
the quarter ended March 29, 1998.