EX-12.1 16 y13913exv12w1.htm EX-12.1: RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1
COMPUTATION OF EARNINGS TO FIXED CHARGES
                                                             
    InSight (Predecessor)   Holdings
         
        Period       Pro forma
    Year   from       for Year
    Ended   July 1 to   Years Ended June 30,   Ended
    June 30,   October 17,       June 30,
    2001   2001   2002   2003   2004   2005   2005
                             
Earnings:
                                                        
 
Pretax income (loss) from continuing operations
   $ 16,425     $ (6,748 )   $ 9     $ 8,188     $ 4,874     $ (12,148 )   $ (13,737 )
 
Fixed charges
     28,757       7,888       35,979       40,191       43,778       49,409       50,998  
 
Distributions received from unconsolidated partnerships
     970       134       965       1,009       2,054       2,621       2,621  
 
Less-Equity in earnings of unconsolidated partnerships
     971       382       437       1,744       2,181       2,613       2,613  
                                           
   
Total earnings
   $ 45,181     $ 892     $ 36,516     $ 47,644     $ 48,525     $ 37,269     $ 37,269  
                                           
Fixed Charges:
                                                        
 
Interest expense
   $ 24,315     $ 6,536     $ 32,856     $ 37,738     $ 40,936     $ 45,558     $ 47,147  
 
Interest factor of rental expense
     4,442       1,352       3,123       2,453       2,842       3,851       3,851  
                                           
   
Total fixed charges
   $ 28,757     $ 7,888     $ 35,979     $ 40,191     $ 43,778     $ 49,409     $ 50,998  
                                           
Ratio of Earnings to Fixed Charges
     1.6 x     —       1.0 x     1.2 x     1.1 x     —        —  
      The ratio of earnings to fixed charges is unaudited for all periods presented. For purpose of calculating this ratio, earnings consist of net income (loss) plus income taxes and fixed charges. Fixed charges consist of interest expense and the estimated portion of rental expense deemed a reasonable approximation of this interest factor. For the year ended June 30, 2005 on an actual and pro forma basis to give pro forma affect to the offering of the initial notes as if it had been completed an July 1, 2004, we had a deficiency of earnings to fixed charges of approximately $12.1 million and $13.7 million, respectively. On October 17, 2001, Holdings acquired InSight pursuant to an agreement and plan of merger dated June 29, 2001, as amended. Holdings did not have any operating activities until October 17, 2001. The ratio of earnings to fixed charges for the year ended June 30, 2002 reflects the results for the entire fiscal year 2002 and does not include the results of operations of InSight from July 1, 2001 to October 17, 2001. For the period from July 1 to October 17, 2001, InSight had a deficiency of earnings to fixed charges of approximately $7.0 million.