Exhibit 12.1

SPACEHAB, INC.

Consolidated Financial Information

Ratio of Earnings to Fixed Charges

(In thousands, except ratio)

	Twelve Months Ended June 30,															Nine Months Ended March 31, 2005
	2000			2001			2002			2003			2004
Earnings, as defined:
Income (loss) before income taxes	$	(5,606	)	$	(13,671	)	$	(4,417	)	$	(82,632	)	$	2,581		$	5,324
Fixed charges, as below		5,001			6,394			8,280			8,537			9,596			4,748
Amortization of capitalized interest		3,673			2,734			1,293			—			—			—
Interest capitalized		3,700			2,700			1,300			—			—			—
Total earnings as defined	$	(632	)	$	(7,243	)	$	3,856		$	(74,095	)	$	12,177		$	10,072
Fixed charges, as defined:
Interest expensed and capitalized	$	3,773		$	4,804		$	6,683		$	7,243		$	8,237		$	4,299
Amortization of debt placement costs		528			623			730			461			726			270
One third of rent expense (1)		700			967			867			833			633			179
Total fixed charges, as defined	$	5,001		$	6,394		$	8,280		$	8,537		$	9,596		$	4,748
Ratio of earnings to fixed charges (2)		—			—			—			—			1.27	x		2.12	x

(1) The interest factor represents one-third of lease expense, which management believes is representative of the interest component of lease expense.

(2) For the years ended June 30, 2000, 2001, 2002, and 2003, earnings were insufficient to cover fixed charges by $5.6 million, $13.6 million, $4.4 million, and $82.6 million, respectively. Accordingly, such ratios have not been presented.