EX-12.1 3 a2125144zex-12_1.htm EXHIBIT 12.1
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EXHIBIT 12.1


STATEMENTS RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
  Year Ended December 31,
  Nine Months
Ended
September 30,
2003

 
 
  1998
  1999
  2000
  2001
  2002
 
 
  (in thousands)

   
 
Earnings:                                      
Income (loss) before income taxes   $ (9,502 ) $ (10,333 ) $ 652   $ 2,659   $ (14,512 ) $ (56,893 )
Add: Fixed charges     1,195     1,510     8,915     10,191     10,371     9,908  
Less: Capitalized interest                     (531 )   (1,698 )
   
 
 
 
 
 
 
  Earnings   $ (8,308 ) $ (8,824 ) $ 9,567   $ 12,850   $ (4,673 ) $ (48,683 )
   
 
 
 
 
 
 
Fixed Charges:                                      
Interest expensed and capitalized   $   $ 155   $ 7,965   $ 8,989   $ 8,957   $ 8,258  
Amortization of convertible notes offering costs             628     721     721     786  
Estimated interest portion of rent expense     1,195     1,355     322     481     693     864  
   
 
 
 
 
 
 
  Fixed charges   $ 1,195   $ 1,510   $ 8,915   $ 10,191   $ 10,371   $ 9,908  
   
 
 
 
 
 
 
Ratio of earnings to fixed charges(1)     N/A     N/A     1.07     1.26     N/A     N/A  

(1)
Income (loss) before income taxes for the years ended December 31, 1998, 1999 and 2002 and the nine-month period ended September 30, 2003 was not sufficient to cover fixed charges by a total of approximately $9.5 million in 1998, $10.3 million in 1999, $15.0 million in 2002 and $58.6 million for the nine-month period ended September 30, 2003. As a result, the ratio of earnings to fixed charges has not been computed for any of these periods.



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STATEMENTS RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES