##### 



EXHIBIT 12.1 STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands) Nine MonthsEndedDecember 31,

    
    Year Ended
    

    Year Ended
    

    Year Ended

    
    Year Ended

    
    Year Ended2004

    
    March 31,

    
    March 31,
    

    March 31,

    
    March 31,
    

    March 31,(Unaudited)
    

    2004
    
    2003
    
    2002
    
    2001
    
    2000Consolidated pretax income (loss) from
continuing operations
    
    $
    (9,435
    )
    
    
    (16,944
    )
    
    
    2,223
    
    
    
    (2,948
    )
    
    
    20,129
    
    
    
    13,694Net amortization of debt issuance
expense
    
    
    1,847
    
    
    
    2,191
    
    
    
    1,626
    
    
    
    1,420
    
    
    
    1,389
    
    
    
    1,326Interest expense
    
    
    23,570
    
    
    
    31,984
    
    
    
    27,048
    
    
    
    28,553
    
    
    
    31,653
    
    
    
    32,637Interest portion of rental expense
    
    
    1,082

    
    
    
    1,442
    
    
    
    1,501
    
    
    
    1,579
    
    
    
    1,766
    
    
    
    1,885Earnings
    
    $
    17,064
    
    
    
    18,673
    
    
    
    32,398
    
    
    
    28,604
    
    
    
    54,937
    
    
    
    49,542Interest expense
    
    $
    23,570
    
    
    
    31,984
    
    
    
    27,048
    
    
    
    28,553
    
    
    
    31,653
    
    
    
    32,637Net amortization of debt issuance
expense
    
    
    1,847
    
    
    
    2,191
    
    
    
    1,626
    
    
    
    1,420
    
    
    
    1,389
    
    
    
    1,326Interest portion of rental expense
    
    
    1,082
    
    
    
    1,442
    
    
    
    1,501
    
    
    
    1,579
    
    
    
    1,766
    
    
    
    1,885Fixed Charges
    
    $
    26,499
    
    
    
    35,617
    
    
    
    30,175
    
    
    
    31,552
    
    
    
    34,808
    
    
    
    35,848Ratio of Earnings to Fixed Charges
    
    
    (a
    )
    
    
    (a
    )
    
    
    1.07x
    
    
    
    (a
    )
    
    
    1.58x
    
    
    
    1.38x
   (a)
    
    The deficiency of earnings required to cover fixed charges for the nine months
ended December 31, 2004 and the fiscal years ended March 31, 2004 and 2002 was
$9,435, $16,944 and $2,948, respectively. The deficiency of earnings to cover
fixed charges is computed by subtracting earnings before fixed charges, income
taxes and discontinued operations from fixed charges. Fixed charges consist of
interest expense, net amortization of debt issuance expense, and that portion of
operating lease rental expense which we deem to be representative of interest.
The deficiency of earnings required to cover fixed charges includes depreciation
of property, plant and equipment, amortization of goodwill (in fiscal years ended
March 31, 2002, 2001 and 2000) and other assets and non-cash charges which are
reflected in cost of sales and selling, general and administrative expenses, in
the following amounts (in thousands): Nine MonthsEnded
    
    
    Fiscal Year EndedDecember 31,
    
    
    March 31,2004
    
    
    2004
    
    
    2002Depreciation
    
    $
    17,099
    
    
    
    23,587
    
    
    
    26,209Amortization
    
    
    358
    
    
    
    675
    
    
    
    4,175Non-cash charges
    
    
    105
    
    
    
    3,753
    
    
    
    4,723Total
    
    $
    17,562
    
    
    
    28,015
    
    
    
    35,107
 42