EX-12.1 3 a2162244zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 

Altrta Industrial Motion

Ratio of Earnings to Fixed Charges

($ in 000’s)

 

 

 

 

 

 

 

Predecessor

 

 

 

6 mths.

 

From

 

11 mths.

 

 

 

 

 

 

 

 

 

ended

 

Inception

 

ended

 

Yr.-ended

 

Yr.-ended

 

Yr.-ended

 

 

 

July 1,

 

Dec. 1-31

 

Nov.30

 

Dec.31

 

Dec.31

 

Dec.31

 

 

 

2005

 

2004

 

2004

 

2003

 

2002

 

2001

 

Net income (loss)

 

$

1,800

 

$

(1,527

)

$

6,767

 

$

(8,933

)

$

(108,296

)

$

(338

)

Adjustments to net loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative effect of change accounting principle-goodwill impairment

 

—

 

—

 

—

 

—

 

83,412

 

—

 

Loss from discontinued operations

 

—

 

—

 

—

 

—

 

700

 

1,867

 

Interest expense

 

8,797

 

1,450

 

4,294

 

5,368

 

5,489

 

6,655

 

Interest component of operating rental expense

 

152

 

40

 

440

 

488

 

472

 

424

 

Income taxes

 

1,201

 

(248

)

5,430

 

(1,592

)

2,455

 

4,794

 

Earnings

 

$

11,950

 

$

(285

)

$

16,931

 

$

(4,669

)

$

(15,768

)

$

13,402

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

8,797

 

$

1,450

 

$

4,294

 

$

5,368

 

$

5,489

 

$

6,655

 

Interest component of operating rental expense

 

152

 

40

 

440

 

488

 

472

 

424

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

8,949

 

$

1,490

 

$

4,734

 

$

5,856

 

$

5,961

 

$

7,079

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio(1)(2)

 

1,34

 

—

 

3.58

 

—

 

—

 

1.89

 

 

(1)                                  For purposes of calculating the ratio of earnings to fixed charges, earnings represent income before income taxes, discontinued operations, cumulative effect of change in accounting principle charges and fixed charges. Fixed charges represent interest expense and a portion of rental expense which we believe is representative of the interest component of rental expense.

 

(2)                                  Earnings were insufficient to cover fixed charges in the period December 1 to December 31, 2004, and each of the years ended December 31, 2003 and 2002 by $1.8 million, $10.5 million, and $21.7 million, respectively.