EX-12.1 2 a05-1832_1ex12d1.htm EX-12.1

Exhibit 12.1

 

(in thousands)

 

 

 

2004

 

2003

 

2002

 

2001

 

2000

 

Fixed Charges Computation:

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividend

 

$

1,512

 

$

1,491

 

$

2,344

 

$

8,563

 

$

14,382

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expenses, including amortization of debt issuance costs, on convertible debt

 

3,595

 

863

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges and preferred dividends

 

5,107

 

2,354

 

2,344

 

8,563

 

14,382

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Computation:

 

 

 

 

 

 

 

 

 

 

 

Profit (loss) before equity in income of investee

 

31,812

 

8,094

 

(22,659

)

(16,417

)

(329,527

)

Add:

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

5,107

 

2,354

 

2,344

 

8,563

 

14,382

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as adjusted

 

$

36,919

 

$

10,488

 

$

(20,315

)

$

(7,854

)

$

(315,145

)

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

10.3

x 

12.1

x 

N/A

 

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred dividends

 

7.2

x 

4.4

x

N/A

 

N/A

 

N/A

 

 

For the years ended December 31, 2000, 2001 and 2002 earnings were not sufficient to cover fixed charges plus preferred dividends by approximately $329.5 million, $16.4 million and $22.7 million, respectively.