EX-12.1 8 d403616dex121.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios

Exhibit 12.1

Statement of Computation of Ratios

 

     Year Ended December 31,     Six Months
Ended June 30,
2012
 
     2007     2008     2009     2010     2011    
     (In thousands, except ratio amounts)  

Earnings:

            

Net loss

   $ (8,748   $ (20,791   $ (22,681   $ (23,863   $ (18,250   $ (22,018

Add: Fixed charges

     237        485        663        4,039        202        127   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings as defined

   $ (8,511   $ (20,306   $ (22,018   $ (19,824   $ (18,048   $ (21,891
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

            

Interest expense

   $ 37      $ 299      $ 513      $ 3,887      $ —        $ —     

Amortization of debt discount

     133        76        11        2        —          —     

Estimated interest portion of rental expense

     67        110        139        150        202        127   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 237      $ 485      $ 663      $ 4,039      $ 202      $ 127   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges (1)

     —          —          —          —          —          —     

 

(1) For purposes of computing the ratio of earnings to fixed charges, earnings consist of our net loss for the period plus fixed charges. We had no capitalized interest during any period. Fixed charges consist of interest expense on debt outstanding, amortization of debt discount, and an estimate of the interest portion of rental expense. The ratio of earnings to fixed charges was less than one-to-one for each of the periods presented. Earnings were insufficient to cover fixed charges by $8.7 million in 2007, $20.8 million in 2008, $22.7 million in 2009, $23.9 million in 2010, $18.3 million in 2011, and $22.0 million in the first six months of 2012.