Exhibit 12.1
Ratio of Earnings to Fixed Charges
For the Six
Months Ended
For the Year Ended, June 30,
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1997 1998 1999 2000 2001 2002 2001
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Income (loss) before taxes from continuing
operations.................................... $16,414 $(12,604) $(22,939) $(10,618) $ (10,967) $(13,016) $(2,331)
Total fixed charges ..................... $ 4,114 $ 20,724 $ 42,136 $ 42,385 $ 41,653 $ 30,111 $19,776
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$20,528 $ 8,120 $ 19,197 $ 31,767 $ 30,686 $ 17,095 $17,445
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Fixed charges
Operating lease expense ................. $ 2,821 $ 2,798 $ 5,051 $ 6,447 $ 4,286 $ 1,651 $ 2,143
Factored at one-third ................... $ 939 $ 933 $ 1,684 $ 2,149 $ 1,429 $ 550 $ 714
Interest expense - gross ................ $ 3,175 $ 19,791 $ 40,452 $ 40,236 $ 40,224 $ 29,561 $19,062
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Total fixed charges ..................... $ 4,114 $20,724 $ 42,136 $ 42,385 $ 41,653 $ 30,111 $19,776
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Ratio of earnings to fixed charges ............... 5.0x 0.4x 0.5x 0.7x 0.7x 0.6x 0.9x
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Deficiency in fixed charge coverage .............. -- $(12,604) $(22,939) $(10,618) (10,967) $(13,016) $(2,331)
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