Intelicoat Technologies Image Products Matthews S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)

(unaudited)

	January 1, 2005 to July 14, 2005			July 15, 2005 to  December 31, 2005			Year Ended December 31, 2006			Year Ended December 31, 2007			Year Ended December 31, 2008			Year Ended December 31, 2009			Six  Months Ended June 30, 2009		Six  Months Ended June 30, 2010
	(Predecessor)			(Successor)
(Loss) income before income taxes	$	(5,179	)	$	(4,354	)	$	(7,238	)	$	(4,446	)	$	(7,333	)	$	(7,049	)	$	2,053	$	(1,835	)
Fixed charges:
Interest on debt		5			5,787			26,110			27,541			29,448			27,049			13,542		13,359
Amortization of deferred financing costs		—			84			1,152			1,343			1,543			1,543			772		772
Estimated interest component of rent expense		—			108			446			549			791			894			420		475
Total fixed charges		5			5,979			27,708			29,433			31,782			29,486			14,734		14,606
Total earnings available for fixed charges	$	(5,151	)	$	1,625		$	20,470		$	24,987		$	24,449		$	22,437		$	16,787	$	12,771
Ratio of earnings to fixed charges		N/A			N/A			N/A			N/A			N/A			N/A			1.1x		N/A

N/A For the years ended December 31, 2009, 2008, 2007 and 2006, the period from July 15, 2005 to December 31, 2005 and the period from January 1, 2005 to July 14, 2005 our earnings were insufficient to cover our fixed charges by $7,049, $7,333, $4,446, $7,238, $4,354, and $5,179, respectively. For the six months ended June 30, 2009 our earnings were sufficient to cover our fixed charges by $2,053. For the six months ended June 30, 2010 our earnings were insufficient to cover our fixed charges by $1,835.