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: |
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| 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 | ) | ||||||||||
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| Total Earnings (losses) |
$ | (14,356 | ) | $ | 19,532 | $ | 20,131 | $ | 39,220 | $ | 11,964 | |||||||||
| Fixed Charges: |
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| 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 | |||||||||||||||
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| 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. |