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EXHIBIT 12.1

IPC ACQUISITION CORP.
STATEMENT RE: COMPUTATION OF EARNINGS TO FIXED CHARGES
(in Thousands)

|                      |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |          |              |        |             |        |             |         |             |        |   |         |         |        |  |     |        |        | 
|--------------------- | ----------------------------------------------------- | ---------------------------------------- | ------------- | ---- | ---------------- | -------- | ---------- | -------- | ------------- | ------ | ----------- | -------- | ------------ | -------- | ------------ | ------ | ----------- | ------ | ----------- | ------- | ----------- | ------ | - | ------- | ------- | ------ |  | --- | ------ | ------ | 
|                      |                                                       |                                          |               |      | Predecessors (1) |          |            |          |               |        |             |          |             
|                      |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |             
|                      |                                                       |                                          |               |      |                  |          |            |          | Period from   |        |             |          |              |          |              |        |             |        | Period from |         | Period from |        |   |         |        
|                      |                                                       |                                          |               |      | Fiscal Year      |          | October 1, |          | Period from   |        | Fiscal Year |          | October 1,   |          | November 15, |        | Fiscal Year
|                      |                                                       |                                          |               |      | Ended            |          | 1999 to    |          | June 15, 2000 |        | Ended       |          | 2001 to      |          | 2001 to      |        | Ended      
|                      |                                                       |                                          |               |      | September        |          | June 14,   |          | to September  |        | September   |          | December 20, |          | September    |        | September  
|(dollars in millions) |                                                       | 30, 1999                                 |               | 2000 |                  | 30, 2000 |            | 30, 2001 |               | 2001   |             | 30, 2002 |              | 30, 2003
|                      |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |         
|Earnings:             |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |          |              |        |             |        |             |         |             |        |   |         |         |        |  |    
|                      |                                                       | Income (loss)
before income
taxes        |               | $    | 31,277           |          |            | $        | 10,386        |        |             | $        | (29,730      | )        |              | $      | (8,425      | )      |             | $       | (11,346     | )      |   | $       | (11,486 | )      |  | $   | 11,887 |       
|                      |                                                       | Interest expense                         |               |      | 20,264           |          |            |          | 16,142        |        |             |          | 5,686        |          |              |        | 27,871      |        |             |         | 5,987       |        |   |         | 19,229  |        |  |     | 22,589 |       
|                      |                                                       | Amortization of
deferred
financing costs |               |      |                 |          |            |          |              |        |             |          |             |          |              |        |            |        |             |         |            |        |   |         | 2,304   |        |  |     | 2,555  |       
|                      |                                                       | Interest portion
of rental expense       |               |      | 1,221            |          |            |          | 825           |        |             |          | 264          |          |              |        | 1,287       |        |             |         | 330         |        |   |         | 1,419   |        |  |     | 2,233  |       
|                      |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |          |              |        |             |        |             |         |             |        |   |         |         |        |  |     |        |       
|                      |                                                       |                                          | Earnings      |      | $                | 52,762   |            |          | $             | 27,353 |             |          | $            | (23,780  | )            |        | $           | 20,733 |             |         | $           | (5,029 | ) |         | $       | 11,466 |  |     | $      | 39,264 | 
|                      |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |          |              |        |             |        |             |         |             |        |   |         |         |        |  |     |        |       
|Fixed charges:        |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |          |              |        |             |        |             |         |             |        |   |         |         |        |  |    
|                      |                                                       | Interest expense                         |               | $    | 20,264           |          |            | $        | 16,142        |        |             | $        | 5,686        |          |              | $      | 27,871      |        |             | $       | 5,987       |        |   | $       | 19,229  |        |  | $   | 22,589 |       
|                      |                                                       | Amortization of
deferred
financing costs |               |      |                 |          |            |          |              |        |             |          |             |          |              |        |            |        |             |         |            |        |   |         | 2,304   |        |  |     | 2,555  |       
|                      |                                                       | Interest portion
of rental expense       |               |      | 1,221            |          |            |          | 825           |        |             |          | 264          |          |              |        | 1,287       |        |             |         | 330         |        |   |         | 1,419   |        |  |     | 2,233  |       
|                      |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |          |              |        |             |        |             |         |             |        |   |         |         |        |  |     |        |       
|                      |                                                       |                                          | Fixed charges |      | $                | 21,485   |            |          | $             | 16,967 |             |          | $            | 5,950    |              |        | $           | 29,158 |             |         | $           | 6,317  |   |         | $       | 22,952 |  |     | $      | 27,377 | 
|                      |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |          |              |        |             |        |             |         |             |        |   |         |         |        |  |     |        |       
|                      | Ratio (deficiency)
of earnings to
cover fixed
charges |                                          |               | 2.5  | x                |          |            | 1.6      | x             |        | $           | (29,730  | )            |          | $            | (8,425 | )           |        | $           | (11,346 | )           |        | $ | (11,486 | )       |        |  | 1.4 | x     
|                      |                                                       |                                          |               |      |                  |          |            |          |               |        |             |          |              |          |              |        |             |        |             |         |             |        |   |         |         |        |  |     |        |