Exhibit 12.1
Ratio of Earnings to Fixed Charges
1999 | 2000 | 2001 | 2002 | 2003 | ||||||||||||||||||||
Historical | Pro Forma | |||||||||||||||||||||||
Loss from continuing operations | $ | (17,392 | ) | $ | (42,436 | ) | $ | (16,388 | ) | $ | (23,098 | ) | $ | (67,102 | ) | $ | (58,487 | ) | ||||||
Provision (benefit) for income taxes | (6,068 | ) | 31,225 | 1,135 | 1,443 | (99 | ) | (99 | ) | |||||||||||||||
Total fixed charges | 44,083 | 44,577 | 44,343 | 42,000 | 36,163 | 27,548 | ||||||||||||||||||
$ | 20,623 | $ | 33,366 | $ | 29,090 | $ | 20,345 | $ | (31,038 | ) | $ | (31,038 | ) | |||||||||||
Fixed charges | ||||||||||||||||||||||||
Operating lease expense | $ | 5,051 | $ | 6,447 | $ | 5,583 | $ | 6,463 | $ | 5,353 | $ | 5,353 | ||||||||||||
Factored at one-third | $ | 1,684 | $ | 2,149 | $ | 1,861 | $ | 2,154 | $ | 1,784 | $ | 1,784 | ||||||||||||
Preferred stock dividends | 1,593 | 1,823 | 2,093 | 5,876 | 4,395 | 4,395 | ||||||||||||||||||
Interest expense—gross | 40,806 | 40,605 | 40,389 | 33,970 | 29,984 | 21,369 | ||||||||||||||||||
Total fixed charges | $ | 44,083 | $ | 44,577 | $ | 44,343 | $ | 42,000 | $ | 36,163 | $ | 27,548 | ||||||||||||
Ratio of earnings to fixed charges | 0.5x | 0.7x | 0.7x | 0.5x | (0.9 | )x | (1.13 | )x | ||||||||||||||||
Deficiency in fixed charge coverage ratio | $ | (23,460 | ) | $ | (11,211 | ) | $ | (15,253 | ) | $ | (21,655 | ) | $ | (67,201 | ) | $ | (58,586 | ) | ||||||