Exhibit 12.1
Altrta Industrial Motion
Ratio of Earnings to Fixed Charges
($ in 000’s)
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| Predecessor |
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| 6 mths. |
| From |
| 11 mths. |
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| ended |
| Inception |
| ended |
| Yr.-ended |
| Yr.-ended |
| Yr.-ended |
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| July 1, |
| Dec. 1-31 |
| Nov.30 |
| Dec.31 |
| Dec.31 |
| Dec.31 |
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| 2005 |
| 2004 |
| 2004 |
| 2003 |
| 2002 |
| 2001 |
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Net income (loss) |
| $ | 1,800 |
| $ | (1,527 | ) | $ | 6,767 |
| $ | (8,933 | ) | $ | (108,296 | ) | $ | (338 | ) |
Adjustments to net loss: |
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Cumulative effect of change accounting principle-goodwill impairment |
| — |
| — |
| — |
| — |
| 83,412 |
| — |
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Loss from discontinued operations |
| — |
| — |
| — |
| — |
| 700 |
| 1,867 |
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Interest expense |
| 8,797 |
| 1,450 |
| 4,294 |
| 5,368 |
| 5,489 |
| 6,655 |
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Interest component of operating rental expense |
| 152 |
| 40 |
| 440 |
| 488 |
| 472 |
| 424 |
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Income taxes |
| 1,201 |
| (248 | ) | 5,430 |
| (1,592 | ) | 2,455 |
| 4,794 |
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Earnings |
| $ | 11,950 |
| $ | (285 | ) | $ | 16,931 |
| $ | (4,669 | ) | $ | (15,768 | ) | $ | 13,402 |
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Fixed charges: |
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Interest expense |
| $ | 8,797 |
| $ | 1,450 |
| $ | 4,294 |
| $ | 5,368 |
| $ | 5,489 |
| $ | 6,655 |
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Interest component of operating rental expense |
| 152 |
| 40 |
| 440 |
| 488 |
| 472 |
| 424 |
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Total fixed charges |
| $ | 8,949 |
| $ | 1,490 |
| $ | 4,734 |
| $ | 5,856 |
| $ | 5,961 |
| $ | 7,079 |
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Ratio(1)(2) |
| 1,34 |
| — |
| 3.58 |
| — |
| — |
| 1.89 |
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(1) For purposes of calculating the ratio of earnings to fixed charges, earnings represent income before income taxes, discontinued operations, cumulative effect of change in accounting principle charges and fixed charges. Fixed charges represent interest expense and a portion of rental expense which we believe is representative of the interest component of rental expense.
(2) Earnings were insufficient to cover fixed charges in the period December 1 to December 31, 2004, and each of the years ended December 31, 2003 and 2002 by $1.8 million, $10.5 million, and $21.7 million, respectively.