EX-12.1 8 d886938dex121.htm EX-12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

(In thousands, except ratios) |  | Years Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
Earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations before income taxes |  | $ | (17,915 | ) |  | $ | 16,177 |  |  | $ | 16,702 |  |  | $ | 26,553 |  |  | $ | (7,999 | )
Add: Fixed charges |  |  | 6,269 |  |  |  | 4,846 |  |  |  | 4,025 |  |  |  | 13,866 |  |  |  | 20,868 |
Subtract: income from equity method investment |  |  | (2,700 | ) |  |  | (1,469 | ) |  |  | (556 | ) |  |  | (1,171 | ) |  |  | (857 | )
Subtract: income attributable to noncontrolling interest |  |  | (10 | ) |  |  | (22 | ) |  |  | (40 | ) |  |  | (28 | ) |  |  | (48 | )
Total Earnings (losses) |  | $ | (14,356 | ) |  | $ | 19,532 |  |  | $ | 20,131 |  |  | $ | 39,220 |  |  | $ | 11,964 |
Fixed Charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense (a) |  | $ | 5,152 |  |  | $ | 3,527 |  |  | $ | 2,857 |  |  | $ | 13,062 |  |  | $ | 19,908 |
Interest portion of rent expense |  |  | 1,117 |  |  |  | 1,319 |  |  |  | 1,168 |  |  |  | 804 |  |  |  | 960 |
Total Fixed Charges |  | $ | 6,269 |  |  | $ | 4,846 |  |  | $ | 4,025 |  |  | $ | 13,866 |  |  | $ | 20,868 |
Ratio of Earnings to Fixed Charges (b) |  |  | — |  |  |  | 4.0x |  |  |  | 5.0x |  |  |  | 2.8x |  |  |  | 0.6x |

The Ratio of Earning to Fixed Charges calculation differs from the Minimum Consolidated Fixed Charge Coverage Ratio as defined in the Company’s Amended and Restated Senior Credit Facility Agreement.

(a) | Interest expense includes interest on outstanding debt obligations, amortization of deferred financing fees, and losses on extinguishment of debt attributable to the write-offs of unamortized deferred financing fees at the time of extinguishment.

(b) | Earnings were insufficient to cover Fixed Charges by $14.4 million for the year ended December 31, 2014 as a result of a goodwill and intangible assets impairment charge of $41.4 million.