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Previous: PMA CAPITAL CORP, 10-Q, 2000-11-13 |
Next: MASTERPIECE TECHNOLOGY GROUP INC, NT 10-Q, 2000-11-13 |
| EXHIBIT 12 |
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)
| For the nine months ended September 30, | ||||||||
| 2000 | 1999 | |||||||
| EARNINGS | ||||||||
| Pre-tax income (loss) | $ | (16,443 | ) | $ | 29,897 | |||
| Fixed charges | 9,693 | 9,738 | ||||||
| Total | $ | (6,750 | ) | $ | 39,635 | |||
| FIXED CHARGES | ||||||||
| Interest expense and amortization of debt discount | ||||||||
| and premium on all indebtedness | $ | 8,858 | $ | 9,134 | ||||
| Interest portion of rental expenses | 835 | 604 | ||||||
| Total fixed charges | $ | 9,693 | $ | 9,738 | ||||
| Ratio of earnings to fixed charges | (A) | 4.1 | ||||||
| (A) | Earnings were insufficient to cover fixed charges by $16.4 million for the nine months ended September 30, 2000. |
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