POS AM: Post-effective amendment to a registration statement that is not immediately effective upon filing
Published on September 8, 2006
Exhibit 12.1
STATEMENT
REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The
ratio of earnings to fixed charges is set forth below. We have calculated the
ratio of earnings to fixed charges by adding net income (loss) from continuing
operations to fixed charges and dividing that sum by such fixed charges. Fixed
charges consist of interest expense and amortization of deferred financing
costs. Fixed charges consist of interest expense and amortization of deferred
financing costs.
|
RATIO
OF EARNINGS TO
FIXED
CHARGES
|
Year
Ended December 31,
|
For
the Six Months Ended June 30,
|
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|
2001
|
2002
|
2003
|
2004
|
2005
|
2006
|
|
|
Unaudited
(in thousands, except ratios)
|
||||||
|
(Loss)
income from continuing operations
|
$(22,253)
|
$(4,335)
|
$27,396
|
$10,069
|
$30,151
|
$18,657
|
|
Interest
expense
|
33,204
|
34,381
|
23,388
|
44,008
|
34,771
|
23,615
|
|
Income
before fixed charges
|
$10,951
|
$30,046
|
$50,784
|
$54,077
|
$64,922
|
$42,272
|
|
Interest
expense
|
$33,204
|
$34,381
|
$23,388
|
$44,008
|
$34,771
|
$23,615
|
|
Total
fixed charges
|
$33,204
|
$34,381
|
$23,388
|
$44,008
|
$34,771
|
$23,615
|
|
Earnings/fixed
charge coverage ratio
|
*
|
*
|
2.2x
|
1.2x
|
1.9x
|
1.8x
|
| · |
Our
earnings were insufficient to cover our fixed charges by $22,253
and
$4,335 in 2001 and 2002, respectively. In addition, our ratio of
earnings
to fixed charges has been revised to reflect the impact of the
implementation of Statement of Financial Accounting Standards No.
144,
Accounting
for the Impairment and Disposal of Long-Lived Assets.
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