EX-12.1 11 dex121.txt RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 Ratio of Earnings to Fixed Charges
For the Six Months Ended For the Year Ended, June 30, ------------------------------------------------ ------------------ 1997 1998 1999 2000 2001 2002 2001 -------- --------- --------- --------- --------- --------- -------- Income before taxes .............................. $17,880 $(11,061) $(21,315) $(10,562) $11,326 $(13,016) $(2,331) Total fixed charges ..................... $ 4,652 $ 21,278 $ 42,408 $ 42,714 $41,993 $ 30,111 $19,776 -------- --------- --------- --------- --------- --------- -------- $22,532 $ 10,217 $ 24,993 $ 32,152 $30,667 $ 17,095 $17,445 -------- --------- --------- --------- --------- --------- -------- Fixed charges Operating lease expense ................. $ 2,821 $ 2,798 $ 5,051 $ 6,447 $ 4,286 $ 1,651 $ 2,143 Factored at one-third ................... $ 939 $ 933 $ 1,684 $ 2,149 $ 1,429 $ 550 $ 714 Interest expense - gross ................ $ 3,713 $ 20,345 $ 40,724 $ 40,565 $ 40,564 $ 29,561 $19,062 -------- --------- --------- --------- --------- --------- -------- Total fixed charges ..................... $ 4,652 $21,278 $ 42,408 $ 42,714 $ 41,993 $ 30,111 $19,776 -------- --------- --------- --------- --------- --------- -------- Ratio of earnings to fixed charges ............... 4.8x 0.5x 0.5x 0.8x 0.7x 0.6x 0.9x -------- --------- --------- --------- --------- --------- -------- Deficiency in fixed charge coverage .............. -- $(11,061) $(21,315) $(10,562) (11,326) $(13,016) $(2,331)