Stream Global Services, Inc. - FORM 10-K - EX-12.1 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 10, 2010

Attached files

file filename
10-K - FORM 10-K - Stream Global Services, Inc.d10k.htm
EX-23.1 - CONSENT OF ERNST & YOUNG LLP - Stream Global Services, Inc.dex231.htm
EX-32.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 906 - Stream Global Services, Inc.dex322.htm
EX-21.1 - SUBSIDIARIES - Stream Global Services, Inc.dex211.htm
EX-32.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 906 - Stream Global Services, Inc.dex321.htm
EX-23.2 - CONSENT OF BDO SEIDMAN LLP - Stream Global Services, Inc.dex232.htm
EX-31.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 302 - Stream Global Services, Inc.dex311.htm
EX-31.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 302 - Stream Global Services, Inc.dex312.htm

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(in thousands)

 

     SGS    SHC  
     Year ended
December 31,
2009		     Year ended
December 31,
2008		     Year ended
December 31,
2007		    Seven months
ended July 31,
2008		     Years Ended December 31,  
              2007     2006     2005  

Net income

    $ (28,573 )    $ 796      $ 1,117    $ (25,372 )    $ (11,323 )    $ (5,349 )    $ (17,544 ) 

income taxes

      4,382        5,359        760      5,095        6,159        4,523        4,939   
                                                       

EBIT

      (24,191 )      6,155        1,877      (20,277 )      (5,164 )      (826 )      (12,605 ) 

Fixed charges

      18,625        2,311        —        7,303        12,055        8,430        4,626   

less capitalized expenses related to indebtedness

      (6,356 )      (206 )      —        (1,070 )      (1,285 )      (664 )      (351 ) 
                                                       

Earnings

    $ (11,922 )    $ 8,260      $ 1,877    $ (14,044 )    $ 5,606      $ 6,940      $ (8,330 ) 

Interest expense

      11,589        1,707        —      $ 5,557      $ 9,796      $ 7,093      $ 3,789   

Amortization of debt issuance cost and bond discount

      6,356        206        —        1,070        1,285        664        351   

Rental expenses representative of an interest factor

      680        398        —        676        974        673        486   
                                                       

FIXED CHARGES

    $ 18,625      $ 2,311      $ —      $ 7,303      $ 12,055      $ 8,430      $ 4,626   

Ratio of Earnings to Fixed Charges (deficiency) (1)

    $ (30,547 )      3.6        N/A    $ (21,347 )    $ (6,449 )    $ (1,490 )    $ (12,956 ) 

 

(1) For purposes of computing the ratio of earnings to fixed charges, (a) earnings consist of net income plus income tax plus fixed charges less capitalized expenses related to indebtedness and (b) fixed charges consists of interest expense and capitalized expenses related to indebtedness and a portion of rent expense representative of interest factored therein.

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