EX-12.1 3 f35962orexv12w1.htm EXHIBIT 12.1 exv12w1
 

EXHIBIT 12.1
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
                                                 
    FISCAL YEAR ENDED DECEMBER 31
                                            Nine Months Ending
    2002   2003   2004   2005   2006   September 30, 2007
                    (In thousands, except ratios)        
Earnings (losses) from continuing operations before taxes
    23,084       (36,573 )     20,408       (25,448 )     (49,431 )     (17,525 )
 
                                               
Fixed charges from continuing operations:
                                               
Interest expense and amortization of debt discount on all indebtedness
    26       125       183       302       300       3,961  
 
                                               
Interest included in rent
    1,185       1,860       1,834       1,676       1,871       1,071  
 
                                               
Total fixed charges from continuing operations
    1,211       1,985       2,017       1,978       2,171       5,032  
 
                                               
Earnings (losses) before taxes and fixed charges
    24,295       (34,588 )     22,425       (23,470 )     (47,260 )     (12,493 )
 
                                               
Ratio of earnings to fixed charges
    20.1       (A )     11.1       (A )     (A )     (A )
     The ratio of earnings to fixed charges is computed by dividing earnings (earnings from continuing operations before taxes adjusted for fixed charges from continuing operations) by fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include (i) interest expense and amortization of debt discount on all indebtedness, and (ii) a reasonable approximation of the interest factor deemed to be included in rental expense for all facilities and equipment.
(A) Due to registrant’s losses in the fiscal years ended December 31, 2003, 2005, 2006 and for the nine months ending September 30, 2007, the ratio coverage was less than 1:1. The registrant must generate additional earnings of (amounts in thousands): $36,573, $25,448, $49,431 and $17,525 for the fiscal years ended December 31, 2003, 2005, 2006 and for the nine months ended September 30, 2007 respectively, to achieve a coverage ratio of 1:1.