EX-12.1 5 dex121.htm CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES Calculation of Ratios of Earnings to Fixed Charges

Exhibit 12.1

Calculation of Ratios of Earnings of Fixed Charges

The following table sets forth, for each of the periods presented, the historical ratio of earnings to fixed charges. The historical ratios are prepared on a consolidated basis.

The ratio of earnings to fixed charges for each of the periods presented is determined by dividing earnings by fixed charges. Earnings consist of income (loss) from operations before income taxes and fixed charges. Fixed charges consist of interest incurred, amortization of debt discount and debt issuance costs, and an estimate of the interest portion of rent expense.

 

    Successor     Successor     Successor     Successor     Combined     Successor          Predecessor  
    Year Ended
December 31,
2009
    Year Ended
December 31,
2008
    Year Ended
December 31,
2007
    Year Ended
December 31,
2006
    Year Ended
December 31,
2005
    March 18, 2005
to Dec 31, 2005
         January 1, 2005
to March 17, 2005
 
                                                     (dollars in thousands)             

Earnings

                 

Income (loss) before income taxes

  $ (13,046   $ (28,820   $ (19,612   $ (25,546   $ (17,091   $ (15,904       $ (1,187

Add: Fixed charges per below

    4,455        2,861        1,443        2,621        2,469        2,353            116   
                                                           

Earnings

    (8,591     (25,959     (18,169     (22,925     (14,622     (13,551         (1,071
                                                           

Fixed Charges

                 

Interest expense

    2,879        1,495        719        856        606        490            116   

Amortization of debt discount and debt issuance costs

    591        380        149        1,272        1,452        1,452            —     

Estimate of interest portion of rent expense

    985        986        575        493        411        411            —     
                                                           

Fixed Charges

    4,455        2,861        1,443        2,621        2,469        2,353            116   
                                                           

Ratio of earnings to fixed charges

    *        *        *        *        *        *            *   
                                                           

Coverage deficiency

  $ (13,046   $ (28,820   $ (19,612   $ (25,546   $ (17,091   $ (15,904       $ (1,187
                                                           

 

* The earnings were inadequate to cover total fixed charges.