**Exhibit12.1**

 

**IESICORPORATION**

 

**COMPUTATIONOF RATIO OF EARNINGS TO FIXED CHARGES**

 

**(INTHOUSANDS, EXCEPT RATIOS)(Unaudited)**

 
|                                                                                       |   | **For the  Year Ended December 31,** |   |
|--------------------------------------------------------------------------------------------|--------|--------------------------------------|--------|
|                                                                                       |   | **2003**                             |   | **2002** |   | **2001** |   | **2000** |   | **1999** |   |
| Earnings:                                                                                  |   |                                 |   |   |   |   |   |   |   |   |   |
| Income (loss) before income taxes and  cumulative effect of change in accounting principle |   | $                                    | (2,606 | ) | $ | 4,332 |   | $ | 2,950 |   | $ | (884 | ) | $ | (9,983 | ) |
| Add back:                                                                                  |   |                                 |   |   |   |   |   |   |   |   |   |
|                                                                                       |   |                                 |   |   |   |   |   |   |   |   |   |
| Interest expense                                                                           |   | 20,276                               |   | 15,478 |   | 12,961 |   | 11,142 |   | 7,905 |   |
| Implicit interest in rents                                                                 |   | 129                                  |   | 147 |   | 284 |   | 273 |   | 163 |   |
| Earnings available for fixed charges                                                       |   | 17,799                               |   | 19,957 |   | 16,195 |   | 10,531 |   | (1,915 | ) |
| Fixed Charges                                                                              |   |                                 |   |   |   |   |   |   |   |   |   |
| Interest expense                                                                           |   | 20,276                               |   | $ | 15,478 |   | $ | 12,961 |   | $ | 11,142 |   | $ | 7,905 |   |
| Capitalized interest                                                                       |   | 1,995                                |   | 1,853 |   | 1,602 |   | 1,883 |   | 80 |   |
|                                                                                       |   |                                 |   |   |   |   |   |   |   |   |   |
| Implicit interest in rents                                                                 |   | 129                                  |   | 147 |   | 284 |   | 273 |   | 163 |   |
| Total fixed charges                                                                        |   | $                                    | 22,400 |   | $ | 17,478 |   | $ | 14,847 |   | $ | 13,298 |   | $ | 8,148 |   |
|                                                                                       |   |                                 |   |   |   |   |   |   |   |   |   |
| Ratio of earnings to fixed charges                                                         |   | 0.8                                  | x      | 1.1 | x | 1.1 | x | 0.8 | x | -0.2 | x |
| Insufficient earnings to cover fixed  charges                                              |   | $                                    | (4,601 | ) | — |   | — |   | $ | (2,767 | ) | $ | (10,063 | ) |

 

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