EX-12.1 5 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

The following table sets forth our ratio of earnings to fixed charges for each of the periods indicated (in thousands):

 

     Year Ended December 31,

 
     2005

    2004

    2003

    2002

    2001

 

Earnings:

                                        

Net loss

   $ (18,128 )   $ (27,637 )   $ (22,698 )   $ (37,173 )   $ (44,928 )

Fixed charges

     5,502       5,661       3,584       1,391       1,125  

Less: Interest Capitalized

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Total Earnings:

   $ (12,626 )   $ (21,976 )   $ (19,114 )   $ (35,782 )   $ (43,803 )
    


 


 


 


 


Fixed Charges:

                                        

Interest expense

     4,363       4,463       2,460       280       322  

Portion of rent expense representative of interest

     1,139       1,198       1,124       1,111       803  
    


 


 


 


 


Total Fixed Charges

   $ 5,502     $ 5,661     $ 3,584     $ 1,391     $ 1,125  
    


 


 


 


 


Ratio of earnings to fixed charges(1)

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(1)   For purposes of computing the ratio of earnings to fixed charges, earnings consist of net loss plus fixed charges. Fixed charges consist of interest expense, amortization of debt expense and discount or premium related to indebtedness, whether expensed or capitalized, and that portion of rental payments under operating leases we believe to be representative of interest. Earnings were insufficient to cover fixed charges for these periods. The amount of the coverage deficiency was $12,626, $21,976, $19,114, $35,782 and $43,803 for the years ended December 31, 2005, 2004, 2003, 2002 and 2001, respectively.