Exhibit 12.1

SSI Investments II and Subsidiaries

Computation of Ratio of Earnings to Fix Charges

(Unaudited, In thousands)

	Successor										Predecessor			Successor			Predecessor		Successor
	Year Ended January 31,										February 1, to May 25, 2010			May 26, (inception) to July 31, 2010			Six months ended July 31,
	2006		2007		2008		2009		2010								2009		2010
Net income (loss) from continuing operations	$	35,215	$	24,153	$	59,728	$	48,877	$	71,368	$	(10,508	)	$	(58,421	)	$	47,455	$	(68,929	)
Add: Fixed Charges		431		278		12,630		14,218		7,553		3,723			18,607			4,477		22,330
Total earnings		35,646		24,431		72,358		63,095		78,921		(6,785	)		(39,814	)		51,932		(46,599	)
Fixed Charges:
Interest expense		431		278		11,895		13,021		6,449		504			17,815			3,901		18,319
Amortization of debt issuance costs		—		—		735		1,197		1,104		3,219			765			576		3,984
Discount amortization		—		—		—		—		—		—			27			—		27
Total fixed charges		431		278		12,630		14,218		7,553		3,723			18,607			4,477		22,330
Ratio of earnings to fixed charges(1)		82.7		87.9		5.7		4.4		10.4		—			—			11.6		—

(1) For the period from February 1 to May 25, 2010, the period from May 26 to July 31, 2010 and for the six months ended July 31, 2010, earnings were insufficient to cover fixed charges by approximately $10.5 million, $58.4 million, and $68.9 million, respectively.