ADVANCED ACCESSORY HOLDINGS CORPORATION
EXHIBIT 12.1 - STATEMENT REGARDING COMPUTATION OF RATIOS -
FIXED CHARGE COVERAGE RATIO
(Dollar amounts in thousands)
| | Company | | Predecessor | |
| | For the Year EndedDecember 31, 2004 | | For the Period from April 15, 2003 to December 31, 2003 | | For the Period from January 1, 2003 to April 14, 2003 | | For the Year Ended December 31, 2002 | |
Pre-tax income (loss) from continuing operations | | $ | (16,808 | ) | $ | (5,902 | ) | $ | (5,098 | ) | $ | 21,837 | |
Fixed Charges: | | | | | | | | | | | | | |
Interest expense and amortization of debt discount and premium on all indebtedness | | | 27,007 | | | 14,409 | | | 4,772 | | | 15,907 | |
Rentals (1) | | | 5,244 | | | 2,478 | | | 1,006 | | | 2,933 | |
Total fixed charges | | | 32,251 | | | 16,887 | | | 5,778 | | | 18,840 | |
Earnings before income taxes and fixed charges | | $ | 15,443 | | $ | 10,985 | | $ | 680 | | $ | 40,677 | |
Ratio of earnings to fixed charges (2) | | | — | | | — | | | — | | | 2.16x | |
__________
(1) | Amount included in fixed charges for rentals is considered by management to be a reasonable approximation of the interest factor. |
(2) | For the year ended December 31, 2004 and the periods ended December 31, 2003 and April 14, 2003 fixed charges exceeded earnings by $16,808, $5,902 and $5,098, respectively, resulting in a ratio less than one. |