EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Computation of

Ratio of Earnings to Fixed Charges

 

      Year Ended December 31,  

(amounts in thousands)

   2007     2006     2005     2004     2003  

Loss before income taxes, extraordinary loss and cumulative effect of adoption of and change in accounting principles

   $ (19,429 )   $ (10,742 )   $ (23,445 )   $ (44,158 )   $ (37,446 )

Equity in net losses of equity method investees

     —         —         —         —         1,933  
                                        

Loss before equity in net losses of equity method investees, income taxes, extraordinary loss and cumulative effect of adoption of and change in accounting principles

     (19,429 )     (10,742 )     (23,445 )     (44,158 )     (35,513 )
                                        

Plus fixed charges:

          

Interest expense

     2,070       2,047       4,623       6,103       6,945  

Amortization of costs related to indebtedness

     1,536       2,308       5,521       6,792       1,171  

Estimated interest factor in rent expense (1)

     512       482       391       455       443  
                                        

Total Fixed Charges

     4,118       4,837       10,535       13,350       8,559  
                                        

Adjusted loss

     (15,311 )     (5,905 )     (12,910 )     (30,808 )     (26,954 )

Fixed charges

     4,118       4,837       10,535       13,350       8,559  

Deficiency in earnings to cover fixed charges

   $ (19,429 )   $ (10,742 )   $ (23,445 )   $ (44,158 )   $ (35,513 )
                                        

Ratio of earnings to fixed charges

     *       *       *       *       *  

 

* Calculation not meaningful as ratio is less then 1.

 

(1) The interest factor in rent expense is estimated as one-third of rental expense.