Attached files
file | filename |
---|---|
10-K - FORM 10-K - GSI COMMERCE INC | w77598e10vk.htm |
EX-31.1 - EX-31.1 - GSI COMMERCE INC | w77598exv31w1.htm |
EX-32.1 - EX-32.1 - GSI COMMERCE INC | w77598exv32w1.htm |
EX-23.1 - EX-23.1 - GSI COMMERCE INC | w77598exv23w1.htm |
EX-31.2 - EX-31.2 - GSI COMMERCE INC | w77598exv31w2.htm |
EX-21.1 - EX-21.1 - GSI COMMERCE INC | w77598exv21w1.htm |
EX-10.11 - EX-10.11 - GSI COMMERCE INC | w77598exv10w11.htm |
Exhibit 12.1
Statement of Ratio of Earnings to Fixed Charges
December 31, | December 30, | December 29, | January 3. | January 2. | ||||||||||||||||
2005 | 2006 | 2007 | 2009 | 2010 | ||||||||||||||||
Pre-tax (loss) income from continuing operations |
1,468 | 6,521 | (3,846 | ) | (30,556 | ) | (8,684 | ) | ||||||||||||
Fixed charges |
5,301 | 7,834 | 17,150 | 24,441 | 25,177 | |||||||||||||||
Total earnings (losses) and fixed charges |
6,769 | 14,355 | 13,304 | (6,115 | ) | 16,493 | ||||||||||||||
Interest expense |
3,772 | 6,081 | 12,191 | 18,841 | 19,430 | |||||||||||||||
Portion of rent expense deemed to be interest
expense |
1,529 | 1,753 | 4,959 | 5,600 | 5,747 | |||||||||||||||
Total fixed charges |
5,301 | 7,834 | 17,150 | 24,441 | 25,177 | |||||||||||||||
Ratio of earnings to fixed charges |
1.28 | 1.83 | n/a | n/a | n/a |
(1) | For purposes of computing the ratio of earnings to fixed charges, total earnings consist of pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries and loss from equity investees plus fixed charges minus minority interests in pre-tax income of subsidiaries that have not incurred fixed charges. Fixed charges consist of interest expense, amortization of debt issuance costs and that portion of rent expense that we believe to be representative of interest expense. Earnings were not sufficient to cover fixed charges by $8.7 million for fiscal year 2009, $30.6 million for fiscal year 2008, and $3.8 million for fiscal year 2007. |