Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in thousands)
| SGS | SHC | ||||||||||||||||||||||||||
| Year ended December 31, 2009 | Year ended December 31, 2008 | Year ended December 31, 2007 | Seven months ended July 31, 2008 | Years Ended December 31, | |||||||||||||||||||||||
| 2007 | 2006 | 2005 | |||||||||||||||||||||||||
Net income | $ | (28,573 | ) | $ | 796 | $ | 1,117 | $ | (25,372 | ) | $ | (11,323 | ) | $ | (5,349 | ) | $ | (17,544 | ) | ||||||||
income taxes | 4,382 | 5,359 | 760 | 5,095 | 6,159 | 4,523 | 4,939 | ||||||||||||||||||||
EBIT | (24,191 | ) | 6,155 | 1,877 | (20,277 | ) | (5,164 | ) | (826 | ) | (12,605 | ) | |||||||||||||||
Fixed charges | 18,625 | 2,311 | — | 7,303 | 12,055 | 8,430 | 4,626 | ||||||||||||||||||||
less capitalized expenses related to indebtedness | (6,356 | ) | (206 | ) | — | (1,070 | ) | (1,285 | ) | (664 | ) | (351 | ) | ||||||||||||||
Earnings | $ | (11,922 | ) | $ | 8,260 | $ | 1,877 | $ | (14,044 | ) | $ | 5,606 | $ | 6,940 | $ | (8,330 | ) | ||||||||||
Interest expense | 11,589 | 1,707 | — | $ | 5,557 | $ | 9,796 | $ | 7,093 | $ | 3,789 | ||||||||||||||||
Amortization of debt issuance cost and bond discount | 6,356 | 206 | — | 1,070 | 1,285 | 664 | 351 | ||||||||||||||||||||
Rental expenses representative of an interest factor | 680 | 398 | — | 676 | 974 | 673 | 486 | ||||||||||||||||||||
FIXED CHARGES | $ | 18,625 | $ | 2,311 | $ | — | $ | 7,303 | $ | 12,055 | $ | 8,430 | $ | 4,626 | |||||||||||||
Ratio of Earnings to Fixed Charges (deficiency) (1) | $ | (30,547 | ) | 3.6 | N/A | $ | (21,347 | ) | $ | (6,449 | ) | $ | (1,490 | ) | $ | (12,956 | ) | ||||||||||
| (1) | For purposes of computing the ratio of earnings to fixed charges, (a) earnings consist of net income plus income tax plus fixed charges less capitalized expenses related to indebtedness and (b) fixed charges consists of interest expense and capitalized expenses related to indebtedness and a portion of rent expense representative of interest factored therein. |