EX-12.1 2 a07-13606_2ex12d1.htm EX-12.1

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(in thousands)

 

 

For the Three Months
Ended March 31,

 

 

 

2007

 

2006

 

Fixed Charges Computation:

 

 

 

 

 

Preferred stock dividend

 

$

1,555

 

$

865

 

Interest expense, including amortization of debt issuance costs

 

2,470

 

1,498

 

Assumed interest element included in rent expense

 

372

 

292

 

Total fixed charges and preferred dividends

 

$

4,397

 

$

2,655

 

 

 

 

 

 

 

Earnings Computation:

 

 

 

 

 

Loss before income taxes, equity in income (loss) of investees and minority interests

 

(26,216

)

(1,041

)

 

 

 

 

 

 

Less:

 

 

 

 

 

Preferred stock dividend

 

(1,555

)

(865

)

Minority interests

 

(183

)

295

 

Add:

 

 

 

 

 

Fixed charges

 

4,397

 

2,655

 

Earnings as adjusted

 

$

(23,557

)

$

1,044

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

N/M

(1)

0.7x

 

Ratio of earnings to fixed charges and preferred dividends

 

N/M

(1)

0.4x

 

 

(1)   For the three months ended March 31, 2007, earnings were not sufficient to cover fixed charged plus preferred dividends by approximately $28.0 million.