Exhibit 12.1
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Ratio of Earnings to Fixed Charges
Our ratio of earnings to fixed charges is computed by dividing earnings by
fixed charges. For the purpose of computing the ratio of earnings to fixed
charges, earnings consist of income before extraordinary items, income taxes and
minority interest plus fixed charges, excluding capitalized interest. Fixed
charges consist of interest costs, whether expensed or capitalized, the interest
component of rental expense, amortization of debt costs, discounts and issue
costs, whether expensed or capitalized, and preferred stock dividends. The
following table sets forth our ratio of earnings to fixed charges for the
periods shown (in thousands):
January 1 to February 11 to
February 11, December 31,
2003 2003 2002 2001
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(Predecessor) (Successor) (Predecessor) (Predecessor)
Net income............................... $ 941 $ 10,190 $ 15,012 $ 11,206
Fixed charges:
Interest expense......................... 375 2,162 3,212 2,781
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Earnings available for fixed charges..... $ 1,316 $ 12,352 $ 18,224 $ 13,987
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Fixed charges:
Interest expense......................... $ 375 $ 2,162 $ 3,212 $ 2,781
Capitalized interest..................... - - - -
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$ 375 $ 2,162 $ 3,212 $ 2,781
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Ratio of earnings to fixed charges....... 3.51x 5.71x 5.67x 5.03x
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