EXHIBIT 12.1 TITAN HOLDINGS, INC. STATEMENT RE: COMPUTATION OF EARNINGS TO FIXED CHARGES (IN THOUSANDS) SIX MONTHS ENDED YEARS ENDED DECEMBER 31, ----------------------- YEAR ENDED --------------------------- JUNE 30, DECEMBER 31, DECEMBER 31, 2001 2002 2003 2004 2004 2005 ------- ------- ------- -------- ------------ ------------ (predecessor) (successor) Earnings: Income (loss) before income taxes $ 181 $11,175 $11,691 $ 5,388 $ 976 ($43,970) Minority interest in net income (loss) 317 (21) Fixed charges 18,174 17,498 13,756 8,669 15,021 33,385 ------- ------- ------- ------- ------- -------- Earnings 18,672 28,652 25,447 14,057 15,997 (10,585) ------- ------- ------- ------- ------- -------- Fixed charges: Interest expense 14,726 13,433 9,444 4,666 11,638 25,141 Amortization of deferred financing costs 568 678 706 2,119 843 3,528 Interest within rental expense 2,880 3,387 3,606 1,884 2,540 4,716 ------- ------- ------- ------- ------- -------- Fixed charges 18,174 17,498 13,756 8,669 15,021 33,385 ------- ------- ------- ------- ------- -------- Ratio of Earnings to Cover Fixed Charges 1.0x 1.6x 1.8x 1.6x 1.1x -0.3x ======= ======= ======= ======= ======= ========