EXHIBIT 12.1
Ratio Support
Ratio Of Earnings To Fixed Charges
Hudson RCI
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As
Restated
1996 1997 1998 1999 2000
-------- ------- -------- -------- --------
Earnings:
Pre-tax income 7,154 11,443 (61,676) 358 (5,994)
Fixed Charges
Interest expense 2,177 1,834 11,327 17,263 21,089
Amortization of debt expense 59 62 - - -
Interest factor of rent expense 365 374 497 677 1,038
-------- ------- -------- -------- --------
Total fixed charges 2,601 2,270 11,824 17,940 22,127
-------- ------- -------- -------- --------
Total earnings before fixed
charges 9,755 13,713 (49,852) 18,298 16,133
-------- ------- -------- -------- --------
Ratio of earnings to fixed
Charges 3.8 6.0 - 1.0 -
Deficiency of earnings to cover
fixed charges (61,676) (5,994)
Ratio of Earnings to Fixed Charges and Preferred Dividends
Hudson RCI
------------------------------------------------------------------
As
Restated
1996 1997 1998 1999 2000
-------- ------- -------- -------- --------
Earnings:
Pre-tax income 7,154 11,443 (61,676) 358 (5,994)
Fixed charges
Interest expense 2,177 1,834 11,327 17,263 21,089
Amortization of debt expense 59 62 - - -
Interest factor of rent expense 365 374 497 677 1,038
Preferred stock dividend
expense - - 4,187 6,518 7,733
Total fixed charges 2,601 2,270 16,011 24,458 29,860
-------- ------- -------- -------- --------
Total earnings before fixed
charges 9,755 13,713 (49,665) 24,816 16,133
-------- ------- -------- -------- --------
Ratio of earnings to fixed
charges 3.8 6.0 - 1.0 -
Deficiency of earnings to cover
fixed charges (61,676) - (13,727)
Computation of Interest Factor of Rental
Hudson RCI
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1996 1997 1998 1999 2000
-------- ------- -------- -------- --------
Operating rental expense 1,106 1,132 1,506 2,052 3,115
Interest factor 33% 33% 33% 33% 33%
-------- ------- -------- -------- --------
Total 365 374 497 677 1,028
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Computation of Preferred Stock Expense
Hudson RCI
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1996 1997 1998 1999 2000
-------- ------- -------- -------- --------
Preferred stock dividend expense - - 2,512 3,911 4,640
Tax effect (1.0 - .40) 60% 60% 60% 60% 60%
-------- ------- -------- -------- --------
Total - - 4,187 6,518 7,733
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