EX-12.1 7 exhibit12-1.htm
Exhibit 12
 
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
 
    
Nine Months Ended
    
Year Ended December 31,
  
    
September 30, 2014
    
2013
    
2012
    
2011
  
                 
Net income (loss)
  
$
(19,295
)
  
$
(261
)
  
$
8,362
    
$
6,717
  
Fixed charges:
                                
Estimate of interest within rent expense
    
386
      
666
      
675
      
727
  
Earnings
  
$
(18,909
)
  
$
405
    
$
9,037
    
$
7,444
  
Fixed charges
  
$
386
    
$
666
    
$
675
    
$
727
  
Ratio of earnings to fixed charges
    
*
      
0.6
      
13.4
      
10.2
  
 
* Earnings for the nine months ended September 30, 2014 were insufficent to cover fixed charges by $19,295.