EX-12.1 12 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS Statement Regarding Computation of Ratio of Earnings

EXHIBIT 12.1

 

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(in thousands)

 

     Years Ended December 31,
    

Six Months Ended

June 30,

  
     1999
     2000
     2001
     2002
     2003
     2003
     2004
  

Net loss

    (6,947 )   (12,941 )   (19,512 )   (19,453 )   (18,457 )   (9,189 )   (24,370 )

Add: fixed charges

    274     343     493     510     1,012     252     12,782  
    
 
 
 
 
 
 

Earnings as defined

    (6,673 )   (12,598 )   (19,019 )   (18,943 )   (17,445 )   (8,937 )   (11,588 )
    
 
 
 
 
 
 

Fixed charges:

                                           

Interest expense

    206     247     260     267     768     131     12,656  

Estimated interest component of rent

    68     96     233     243     244     121     126  
    
 
 
 
 
 
 

Total fixed charges

    274     343     493     510     1,012     252     12,782  
    
 
 
 
 
 
 

Ratio of earnings to fixed charges and preferred stock dividends

    (1 )   (1 )   (1 )   (1 )   (1 )   (1 )   (1 )
(1) Earnings (as defined) for the period were insufficient to cover fixed charges by an amount equal to the net loss for the period.