EX-12.1 5 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

Ratio of Earnings to Fixed Charges

 

     1999

    2000

    2001

    2002

    2003

 
                             Historical

    Pro Forma

 

Loss from continuing operations

   $ (17,392 )   $ (42,436 )   $ (16,388 )   $ (23,098 )   $ (67,102 )   $ (58,487 )

Provision (benefit) for income taxes

     (6,068 )     31,225       1,135       1,443       (99 )     (99 )

Total fixed charges

     44,083       44,577       44,343       42,000       36,163       27,548  
    


 


 


 


 


 


     $ 20,623     $ 33,366     $ 29,090     $ 20,345     $ (31,038 )   $ (31,038 )
    


 


 


 


 


 


Fixed charges

                                                

Operating lease expense

   $ 5,051     $ 6,447     $ 5,583     $ 6,463     $ 5,353     $ 5,353  

Factored at one-third

   $ 1,684     $ 2,149     $ 1,861     $ 2,154     $ 1,784     $ 1,784  

Preferred stock dividends

     1,593       1,823       2,093       5,876       4,395       4,395  

Interest expense—gross

     40,806       40,605       40,389       33,970       29,984       21,369  
    


 


 


 


 


 


Total fixed charges

   $ 44,083     $ 44,577     $ 44,343     $ 42,000     $ 36,163     $ 27,548  
    


 


 


 


 


 


Ratio of earnings to fixed charges

     0.5x       0.7x       0.7x       0.5x       (0.9 )x     (1.13 )x
    


 


 


 


 


 


Deficiency in fixed charge coverage ratio

   $ (23,460 )   $ (11,211 )   $ (15,253 )   $ (21,655 )   $ (67,201 )   $ (58,586 )