EX-12.1 3 dex121.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios
 
Exhibit 12.1
 
Statement of Computation of Ratios
 
Pursuant to Item 503
Regulation S-K
 
    
Year ended December 31,
     
Nine months
ended
Sept. 30,
2002
  
    
1997
     
1998
     
1999
     
2000
     
2001
     
    
(Dollars in Thousands)
  
Pre-tax loss before adjustment for minority interests and equity in net loss of affiliate
   
$
(37,483
)
   
$
(869
)
   
$
(20,050
)
   
$
(42,519
)
   
$
(62,170
)
   
$
(69,559
)
Interest expense
   
 
2,229
 
   
 
2,685
 
   
 
2,793
 
   
 
3,796
 
   
 
2,818
 
   
 
7,919
 
Amortization of interest expense related to warrants issued
   
 
—
 
   
 
—
 
   
 
—
 
   
 
—
 
   
 
—
 
   
 
1,435
 
Lease rental expense representative of interest(1)
   
 
371
 
   
 
321
 
   
 
723
 
   
 
534
 
   
 
637
 
   
 
624
 
    
  
  
  
  
  
Pre-tax loss before adjustment for minority interests and equity in net loss of affiliate plus fixed charges
   
 
(34,883
)
   
 
2,137
 
   
 
(16,534
)
   
 
(38,189
)
   
 
(58,715
)
   
 
(59,581
)
    
  
  
  
  
  
Less: fixed charges
                                                      
Interest expense
   
 
2,229
 
   
 
2,685
 
   
 
2,793
 
   
 
3,796
 
   
 
2,818
 
   
 
7,919
 
Amortization of interest expense related to warrants issued
   
 
—
 
   
 
—
 
   
 
—
 
   
 
—
 
   
 
—
 
   
 
1,435
 
Lease rental expense representative of interest(1)
   
 
371
 
   
 
321
 
   
 
723
 
   
 
534
 
   
 
637
 
   
 
624
 
    
  
  
  
  
  
Total fixed charges
   
 
2,600
 
   
 
3,006
 
   
 
3,516
 
   
 
4,330
 
   
 
3,455
 
   
 
9,978
 
    
  
  
  
  
  
Pre-tax loss before adjustment for minority interests and equity in net loss of affiliate
   
$
(37,483
)
   
$
(869
)
   
$
(20,050
)
   
$
(42,519
)
   
$
(62,170
)
   
$
(69,559
)
    
  
  
  
  
  
Ratio of earnings to fixed charges
   
 
N/A
 
   
 
0.7
 
   
 
N/A
 
   
 
N/A
 
   
 
N/A
 
   
 
N/A
 
Deficiency in earnings
   
$
(37,483
)
   
$
(869
)
   
$
(20,050
)
   
$
(42,519
)
   
$
(62,170
)
   
$
(69,559
)
(1)
 
Calculated as one-third of rentals, which is a reasonable approximation of the interest factor.