Exhibit 12.1
Ratio of Earnings to Fixed Charges
For the year ended December 31, | For the six months ended June 30, | ||||||||||||||||||||||||||
2000 | 2001 | 2002 | 2003 | 2004 | 2004 | 2005 | |||||||||||||||||||||
Income/(loss) from continuing operations | $ | (42,436 | ) | $ | (16,388 | ) | $ | (23,098 | ) | $ | (67,102 | ) | (10,557 | ) | $ | (6,900 | ) | $ | 5,634 | ||||||||
Provision (benefit) for income taxes | 31,225 | 1,135 | 1,443 | (99 | ) | 2,421 | 170 | 532 | |||||||||||||||||||
Total fixed charges | 44,577 | 44,343 | 42,000 | 36,163 | 24,376 | 11,570 | 13,732 | ||||||||||||||||||||
$ | 33,366 | $ | 29,090 | $ | 20,345 | $ | (31,038 | ) | $ | 16,240 | $ | 4,840 | $ | 19,898 | |||||||||||||
Fixed charges | |||||||||||||||||||||||||||
Operating lease expense | $ | 6,447 | $ | 5,583 | $ | 6,463 | $ | 5,353 | 6,100 | $ | 2,874 | $ | 2,910 | ||||||||||||||
Factored at one-third | $ | 2,149 | $ | 1,861 | $ | 2,154 | $ | 1,784 | 2,033 | $ | 958 | $ | 970 | ||||||||||||||
Preferred stock dividends | 1,823 | 2,093 | 5,876 | 4,395 | — | — | — | ||||||||||||||||||||
Interest expense | 40,605 | 40,389 | 33,970 | 29,984 | 22,343 | 10,612 | 12,762 | ||||||||||||||||||||
Total fixed charges | $ | 44,577 | $ | 44,343 | $ | 42,000 | $ | 36,163 | $ | 24,376 | $ | 11,570 | $ | 13,732 | |||||||||||||
Ratio of earnings/(loss) to fixed charges | 0.7x | 0.7x | 0.5x | (0.9 | )x | 0.7x | 0.4x | 1.4x | |||||||||||||||||||
(Deficiency)/ surplus in fixed charge coverage ratio | $ | (11,211 | ) | $ | (15,253 | ) | $ | (21,655 | ) | $ | (67,201 | ) | (8,136 | ) | $ | (6,730 | ) | $ | 6,166 | ||||||||