EX-12.1 3 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,  
     2010     2009     2008      2007     2006  

(Loss)/income from continuing operations

   $ (6,995   $ (143,285   $ 17,052       $ (9,642   $ 18,002   

Total fixed charges

     41,762        35,531        45,099         39,181        34,575   
                                         
   $ 34,767      $ (107,754   $ 62,151       $ 29,539      $ 52,577   
                                         

Fixed charges

           

Operating lease expense

   $ 16,777      $ 21,589      $ 28,658       $ 23,516      $ 10,860   

Factored at one-third

     5,592        7,196        9,553         7,839        3,620   

Interest expense

     36,170        28,335        35,546         31,342        30,955   
                                         

Total fixed charges

   $ 41,762      $ 35,531      $ 45,099       $ 39,181      $ 34,575   
                                         

Ratio of earnings/(loss) to fixed charges

     (1     (1     1.4x         (1     1.5x   
                                         

(Deficiency)/surplus in fixed charge coverage ratio

   $ (6,995   $ (143,285   $ 17,052       $ (9,642   $ 18,002   

 

(1) In 2010, 2009 and 2007 earnings were insufficient to cover fixed charges by approximately $7.0 million, $143.3 million and $9.6 million, respectively.