Exhibit 12.1
Ratio of Earnings to Fixed Charges
| For the year ended December 31, | For the nine months ended September 30, | ||||||||||||||||||||||||||||||
| 1999 | 2000 | 2001 | 2002 | 2003 | 2003 | 2004 | |||||||||||||||||||||||||
| (Restated) | (Restated) | (Restated) | (Restated) | Historical | Pro Forma | ||||||||||||||||||||||||||
Loss from continuing operations | $ | (17,392 | ) | $ | (42,436 | ) | $ | (16,388 | ) | $ | (23,098 | ) | $ | (67,102 | ) | $ | (58,487 | ) | $ | 708 | $ | (4,149 | ) | ||||||||
Provision (benefit) for income taxes | (6,068 | ) | 31,225 | 1,135 | 1,443 | (99 | ) | (99 | ) | 360 | 858 | ||||||||||||||||||||
Total fixed charges | 44,083 | 44,577 | 44,343 | 42,000 | 36,163 | 27,548 | 28,534 | 17,567 | |||||||||||||||||||||||
| $ | 20,623 | $ | 33,366 | $ | 29,090 | $ | 20,345 | $ | (31,038 | ) | $ | (31,038 | ) | $ | 29,602 | $ | 14,276 | ||||||||||||||
Fixed charges | |||||||||||||||||||||||||||||||
Operating lease expense | $ | 5,051 | $ | 6,447 | $ | 5,583 | $ | 6,463 | $ | 5,353 | $ | 5,353 | $ | 3,994 | $ | 4,325 | |||||||||||||||
Factored at one-third | $ | 1,684 | $ | 2,149 | $ | 1,861 | $ | 2,154 | $ | 1,784 | $ | 1,784 | $ | 1,331 | $ | 1,442 | |||||||||||||||
Preferred stock dividends | 1,593 | 1,823 | 2,093 | 5,876 | 4,395 | 4,395 | 4,481 | — | |||||||||||||||||||||||
Interest expense—gross | 40,806 | 40,605 | 40,389 | 33,970 | 29,984 | 21,369 | 22,722 | 16,125 | |||||||||||||||||||||||
Total fixed charges | $ | 44,083 | $ | 44,577 | $ | 44,343 | $ | 42,000 | $ | 36,163 | $ | 27,548 | $ | 28,534 | $ | 17,567 | |||||||||||||||
Ratio of earnings to fixed charges | 0.5x | 0.7x | 0.7x | 0.5x | (0.9 | )x | (1.13 | )x | 1.04x | 0.81x | |||||||||||||||||||||
Deficiency in fixed charge coverage ratio | $ | (23,460 | ) | $ | (11,211 | ) | $ | (15,253 | ) | $ | (21,655 | ) | $ | (67,201 | ) | $ | (58,586 | ) | $ | 1,068 | $ | (3,291 | ) | ||||||||