Exhibit 12.1
Ratio of Earnings to Fixed Charges
For the year ended December 31, | |||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
Income/(loss) from continuing operations | $ | (9,642 | ) | $ | 18,002 | $ | 12,219 | $ | (10,373 | ) | $ | (68,020 | ) | ||||||
Provision (benefit) for income taxes | (2,079 | ) | (38,168 | ) | 352 | 2,421 | (99 | ) | |||||||||||
Total fixed charges | 40,394 | 33,008 | 29,899 | 24,376 | 36,163 | ||||||||||||||
$ | 28,673 | $ | 12,842 | $ | 42,470 | $ | 16,424 | $ | (31,956 | ) | |||||||||
Fixed charges | |||||||||||||||||||
Operating lease expense | $ | 23,516 | $ | 10,860 | $ | 6,232 | $ | 6,100 | $ | 5,353 | |||||||||
Factored at one-third | $ | 7,839 | $ | 3,620 | $ | 2,077 | $ | 2,033 | $ | 1,784 | |||||||||
Preferred stock dividends | 4,395 | ||||||||||||||||||
Interest expense | 32,555 | 29,388 | 27,822 | 22,343 | 29,984 | ||||||||||||||
Total fixed charges | $ | 40,394 | $ | 33,008 | $ | 29,899 | $ | 24,376 | $ | 36,163 | |||||||||
Ratio of earnings/(loss) to fixed charges | 0.7x | 0.4x | 1.4x | 0.7x | (0.9)x | ||||||||||||||
(Deficiency)/ surplus in fixed charge coverage ratio | $ | (11,721 | ) | $ | (20,166 | ) | $ | 12,571 | $ | (7,952 | ) | $ | (68,119 | ) | |||||