EX-12.1 6 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

Ratio of Earnings to Fixed Charges

 

     For the year ended December 31,

   

For the six

months ended

June 30,


     2000

    2001

    2002

    2003

    2004

    2004

     2005

Income/(loss) from continuing operations

   $ (42,436 )   $ (16,388 )   $ (23,098 )   $ (67,102 )     (10,557 )   $ (6,900 )    $ 5,634

Provision (benefit) for income taxes

     31,225       1,135       1,443       (99 )     2,421       170        532

Total fixed charges

     44,577       44,343       42,000       36,163       24,376       11,570        13,732
    


 


 


 


 


 


  

     $ 33,366     $ 29,090     $ 20,345     $ (31,038 )   $ 16,240     $ 4,840      $ 19,898
    


 


 


 


 


 


  

Fixed charges

                                                       

Operating lease expense

   $ 6,447     $ 5,583     $ 6,463     $ 5,353       6,100     $ 2,874      $ 2,910

Factored at one-third

   $ 2,149     $ 1,861     $ 2,154     $ 1,784       2,033     $ 958      $ 970

Preferred stock dividends

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

Interest expense

     40,605       40,389       33,970       29,984       22,343       10,612        12,762
    


 


 


 


 


 


  

Total fixed charges

   $ 44,577     $ 44,343     $ 42,000     $ 36,163     $ 24,376     $ 11,570      $ 13,732
    


 


 


 


 


 


  

Ratio of earnings/(loss) to fixed charges

     0.7x       0.7x       0.5x       (0.9 )x     0.7x       0.4x        1.4x
    


 


 


 


 


 


  

(Deficiency)/ surplus in fixed charge coverage ratio

   $ (11,211 )   $ (15,253 )   $ (21,655 )   $ (67,201 )     (8,136 )   $ (6,730 )    $ 6,166