Exhibit 12.1

SPACEHAB, INC.

Consolidated Financial Information

Ratio of Earnings to Fixed Charges

(In thousands, except ratio)

	Twelve Months Ended June 30,
	2000			2001			2002			2003			2004		2005
Earnings, as defined:
Income (loss) before income taxes	$	(5,606	)	$	(13,671	)	$	(4,417	)	$	(82,632	)	$	2,581	$	5,103
Fixed charges, as below		5,001			6,394			8,280			8,537			9,596		6,307
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	$	11,410
Fixed charges, as defined:
Interest expensed and capitalized	$	3,773		$	4,804		$	6,683		$	7,243		$	8,237	$	5,716
Amortization of debt placement costs		528			623			730			461			726		360
One third of rent expense		700			967			867			833			633		231
Total fixed charges, as defined	$	5,001		$	6,394		$	8,280		$	8,537		$	9,596	$	6,307
Ratio of earnings to fixed charges		—			—			—			—			1.27		1.81	x

(1) For the years ended June 30, 2000, 2001, 2002, and 2003, earnings were insufficient to cover fixed charges by $5,633, $13,637, $4,424, and $82,632, respectively. Accordingly, such rations have not been presented.

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