EX-12.1 5 a05-4783_1ex12d1.htm EX-12.1

Exhibit 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
For the Years Ended December 31, 2004, 2003 and 2002
(in thousands)

 

 

For the Years Ended December 31,

 

 

 

2004

 

2003

 

2002

 

Net loss before taxes

 

$

(28,629

)

$

(74,522

)

$

(124,319

)

Add: Fixed charges, net capitalized interest

 

11,520

 

12,805

 

13,335

 

Earnings (loss) before fixed charges

 

(17,109

)

(61,717

)

(110,984

)

Fixed charges:

 

 

 

 

 

 

 

Interest expense including amortization of debt issuance costs

 

$

11,520

 

$

12,805

 

$

13,335

 

Capitalized interest

 

—

 

—

 

—

 

Total fixed charges

 

11,520

 

12,805

 

13,335

 

Ratio of earnings to fixed charges(1)

 

—

 

—

 

—

 

(1)                 For the years ended December 31, 2004, 2003 and 2002, the Company had a deficiency of earnings compared to its fixed charges of $28,629, $74,522 and $124,319, respectively.