EX-12.1 5 dex121.txt RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 Ratio Support Ratio Of Earnings To Fixed Charges
Hudson RCI ------------------------------------------------------------------ As Restated 1996 1997 1998 1999 2000 -------- ------- -------- -------- -------- Earnings: Pre-tax income 7,154 11,443 (61,676) 358 (5,994) Fixed Charges Interest expense 2,177 1,834 11,327 17,263 21,089 Amortization of debt expense 59 62 - - - Interest factor of rent expense 365 374 497 677 1,038 -------- ------- -------- -------- -------- Total fixed charges 2,601 2,270 11,824 17,940 22,127 -------- ------- -------- -------- -------- Total earnings before fixed charges 9,755 13,713 (49,852) 18,298 16,133 -------- ------- -------- -------- -------- Ratio of earnings to fixed Charges 3.8 6.0 - 1.0 - Deficiency of earnings to cover fixed charges (61,676) (5,994)
Ratio of Earnings to Fixed Charges and Preferred Dividends
Hudson RCI ------------------------------------------------------------------ As Restated 1996 1997 1998 1999 2000 -------- ------- -------- -------- -------- Earnings: Pre-tax income 7,154 11,443 (61,676) 358 (5,994) Fixed charges Interest expense 2,177 1,834 11,327 17,263 21,089 Amortization of debt expense 59 62 - - - Interest factor of rent expense 365 374 497 677 1,038 Preferred stock dividend expense - - 4,187 6,518 7,733 Total fixed charges 2,601 2,270 16,011 24,458 29,860 -------- ------- -------- -------- -------- Total earnings before fixed charges 9,755 13,713 (49,665) 24,816 16,133 -------- ------- -------- -------- -------- Ratio of earnings to fixed charges 3.8 6.0 - 1.0 - Deficiency of earnings to cover fixed charges (61,676) - (13,727)
Computation of Interest Factor of Rental
Hudson RCI ------------------------------------------------------------------ 1996 1997 1998 1999 2000 -------- ------- -------- -------- -------- Operating rental expense 1,106 1,132 1,506 2,052 3,115 Interest factor 33% 33% 33% 33% 33% -------- ------- -------- -------- -------- Total 365 374 497 677 1,028 ======== ======= ======== ======== ========
Computation of Preferred Stock Expense
Hudson RCI ------------------------------------------------------------------ 1996 1997 1998 1999 2000 -------- ------- -------- -------- -------- Preferred stock dividend expense - - 2,512 3,911 4,640 Tax effect (1.0 - .40) 60% 60% 60% 60% 60% -------- ------- -------- -------- -------- Total - - 4,187 6,518 7,733 ======== ======= ======== ======== ========