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EXHIBIT 12.1

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

|                                                      |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |         |        | 
|----------------------------------------------------- | ---------------------------------------- | ------------- | ---- | ------------------ | ------ | ------------------ | ---- | ------------------ | ------ | ------------------ | ---- | ------------------ | ------ | ------------------ | ------- | ---------------- | ------ | - | ------ | ----------- | ------ | ----------------- | ------- | ------- | ------ | - | ------- | ------- | ------ | 
|                                                      |                                          |               |      | Predecessors       |        |                    |      |                   
|                                                      |                                          |               |      |                    |        | Period from       
|                                                      |                                          |               |      |                    |        |                    |      |                    |        |                    |      | Period from        |        | Period from        |         |                  |        |   |        | Period from |        | November 15, 2001
|                                                      |                                          |               |      | Fiscal Year Ended  |        | Fiscal Year Ended  |      | October 1, 1999 to |        | June 15, 2000 to   |      | Fiscal Year Ended  |        | October 1, 2001 to |         | to September 30,
|                                                      |                                          |               |      | September 30, 1998 |        | September 30, 1999 |      | June 14, 2000      |        | September 30, 2000 |      | September 30, 2001 |        | December 20, 2001  |         | 2002            
|                                                      |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                 
|                                                      |                                          |               |      | (unaudited)        |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |        
|Earnings:                                             |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |        
|                                                      | Income (loss) before income taxes        |               | $    | 35,635             |        |                    | $    | 31,277             |        |                    | $    | 10,386             |        |                    | $       | (11,935          | )      |   | $      | (8,425      | )      |                   | $       | (11,346 | )      |   | $       | (11,486 | )     
|                                                      | Interest expense                         |               |      | 9,705              |        |                    |      | 20,264             |        |                    |      | 16,142             |        |                    |         | 5,686            |        |   |        | 27,871      |        |                   |         | 5,987   |        |   |         | 19,229  |       
|                                                      | Amortization of deferred financing costs |               |      |                   |        |                    |      |                   |        |                    |      |                   |        |                    |         |                 |        |   |        |            |        |                   |         |        |        |   |         | 2,304   |       
|                                                      | Interest portion of rental expense       |               |      | 1,353              |        |                    |      | 1,221              |        |                    |      | 825                |        |                    |         | 264              |        |   |        | 1,287       |        |                   |         | 330     |        |   |         | 1,419   |       
|                                                      |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |        
|                                                      |                                          | Earnings      |      | $                  | 46,693 |                    |      | $                  | 52,762 |                    |      | $                  | 27,353 |                    |         | $                | (5,985 | ) |        | $           | 20,733 |                   |         | $       | (5,029 | ) |         | $       | 11,466 | 
|                                                      |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |        
|Fixed charges:                                        |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |        
|                                                      | Interest expense                         |               | $    | 9,705              |        |                    | $    | 20,264             |        |                    | $    | 16,142             |        |                    | $       | 5,686            |        |   | $      | 27,871      |        |                   | $       | 5,987   |        |   | $       | 19,229  |       
|                                                      | Amortization of deferred financing costs |               |      |                   |        |                    |      |                   |        |                    |      |                   |        |                    |         |                 |        |   |        |            |        |                   |         |        |        |   |         | 2,304   |       
|                                                      | Interest portion of rental expense       |               |      | 1,353              |        |                    |      | 1,221              |        |                    |      | 825                |        |                    |         | 264              |        |   |        | 1,287       |        |                   |         | 330     |        |   |         | 1,419   |       
|                                                      |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |        
|                                                      |                                          | Fixed charges |      | $                  | 11,058 |                    |      | $                  | 21,485 |                    |      | $                  | 16,967 |                    |         | $                | 5,950  |   |        | $           | 29,158 |                   |         | $       | 6,317  |   |         | $       | 22,952 | 
|                                                      |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |        
|Ratio (deficiency) of earnings to cover fixed charges |                                          |               | 4.2x |                    |        |                    | 2.5x |                    |        |                    | 1.6x |                    |        | $                  | (11,935 | )                |        | $ | (8,425 | )           |        | $                 | (11,346 | )       |        | $ | (11,486 | )      
|                                                      |                                          |               |      |                    |        |                    |      |                    |        |                    |      |                    |        |                    |         |                  |        |   |        |             |        |                   |         |         |        |   |         |