EX-12.1 3 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

For the Years Ended December 31, 2005, 2004 and 2003

(in thousands)

 

     For the Years Ended December 31,  
     2005    2004     2003  

Net income (loss) before taxes

    $ 5,236    $ (28,629 )   $ (74,522 )

Add: Fixed charges, net capitalized interest

      10,558      11,520       12,805  
                       

Earnings (loss) before fixed charges

    $ 15,794    $ (17,109 )   $ (61,717 )
                       

Fixed charges:

        

Interest expense including amortization of debt issuance costs

    $ 10,558    $ 11,520     $ 12,805  

Capitalized interest

      —        —         —    
                       

Total fixed charges

    $ 10,558    $ 11,520     $ 12,805  
                       

Ratio of earnings to fixed charges(1)

     1.5 : 1      —         —    
                       
(1) For 2004 and 2003, the Company had a deficiency of earnings compared to its fixed charges of $28,629 and $74,522, respectively.