EX-12.1 2 v95704a2exv12w1.txt EXHIBIT 12.1 . . . Exhibit 12.1 Ratio of Earnings to Fixed Charges ---------------------------------------------------------------------------------------- Three Months Ended March 31, Fiscal Year Ended December 31, --------------------- --------------------------------------------------------------- 2003 2004 1999 2000 2001 2002 2003 -------- --------- ------- ---------- --------- --------- -------- Net income (loss) before income taxes... $(2,760) $(10,336) $ 6,926 $(107,155) $(78,821) $(32,381) $(21,307) Total fixed charges..................... 935 1,077 3,992 3,923 3,817 3,769 4,057 ------- -------- ------- --------- -------- -------- ------- Total income (loss) before income taxes and fixed charges..................... $(1,825) $(9,259) $10,918 $(103,232) $(75,004) $(28,612) $(17,250) ======= ======= ======= ========= ======== ======== ======= Fixed Charges........................... Interest expense........................ $ -- $ 156 $ 90 $ 62 $ -- $ -- $ 338 Assumed interest attributable to rentals 935 921 3,902 3,861 3,817 3,769 3,719 ------- ------- ------- --------- -------- -------- ------- Total fixed charges..................... $ 935 $ 1,077 $ 3,992 $ 3,923 $ 3,817 $ 3,769 $ 4,057 ======= ======= ======= ========= ======== ======== =======
Ratio of earnings to fixed charges(1)... N/A N/A 1.73 N/A N/A N/A N/A Deficiency of earnings available to cover fixed charges(2)... $(2,760) $(10,336) $ N/A $(107,155) $(78,821) $(32,381) $(21,307)
(1) Ratio of earnings to fixed charges means the ratio of net income (before fixed charges and income taxes) to fixed charges, where fixed charges are the aggregate of interest expense, the portion of interest expense under operating leases deemed by us to be representative of the interest factor and amortization of debt issuance costs. (2) Due to net losses incurred in the three months ended March 31, 2004 and 2003 and the years ended December 31, 2000, 2001, 2002 and 2003, the ratio of earnings to fixed charges in those periods was less than 1:1. We would have had to generate additional earnings in the amounts indicated in the table to have achieved a ratio of 1:1.