EX-12.1 4 dex121.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

EXHIBIT 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(in thousands)

 

     For the year ended December 31,  
     2004     2005     2006     2007     2008  

Earnings:

           

Net income (loss) before income taxes

    $ (24,757 )    $ (29,441 )    $ (30,231 )    $ (23,121 )    $ (21,565 ) 

Add:

           

Fixed charges

      301        296        319        441        465   
                                        

Total earnings and fixed charges

    $ (24,456 )    $ (29,145 )    $ (29,912 )    $ (22,680 )    $ (21,100 ) 
                                        

Fixed Charges:

           

Interest expense

    $ —        $ —        $ —        $ —        $ —     

Estimated interest portion of rental expense

      301       296       319       441       465  
                                        

Total fixed charges

    $ 301      $ 296      $ 319      $ 441      $ 465   
                                        

Ratio of Earnings to Fixed Charges(1)

      (81.25 )      (98.46 )      (93.77 )      (51.43 )      (45.38 ) 

 

(1)

The ratio of earnings to fixed charges is computed by dividing earnings before taxes plus fixed charges by fixed charges. Fixed charges means the sum of the following: (i) interest expense (including interest expense from capital leases), (ii) amortized premiums, discounts and capitalized expenses related to indebtedness, and (iii) the estimated portion of rental expense deemed by us to be representative of the interest factor of rental payments under operating leases.