EX-12 5 ex12ey.txt COMPUTATION OF RATIOS Exhibit 12.1 Computation of Ratios of Earnings to Fixed Charges (in thousands, except for ratios)
Nine Months Ended September 30, Year Ended December 31, 2001 2000 2000 1999 1998 1997 1996 -------------------------- --------------------------------------------------------------- Fixed Charges Interest expense $ 223 $ 173 $ 228 $ 231 $ 151 $ 153 $ 272 Estimated interest portion of rent expense (25%) 328 515 619 683 595 535 325 -------------------------- --------------------------------------------------------------- Total Fixed Charges 551 688 847 914 746 688 597 (Loss) income from continuing operations before income taxes (22,300) (21,970) (28,506) (16,822) (19,954) 5,341 6,122 Add: Fixed charges 551 688 847 914 746 688 597 Less: Equity in (earnings)/losses and other adjustments of NPI - - 1,411 7,188 1,130 - - -------------------------- --------------------------------------------------------------- Earnings (loss) before fixed charges $(21,749) $(21,282) $(27,659) $(14,498) $(12,020) $ 7,159 $ 6,719 Ratio of earnings to fixed charges - - - - - 10.4 11.3
For the purpose of calculating the ratio of earnings to fixed charges, earnings are defined as consolidated income from continuing operations before income taxes plus fixed charges. Fixed charges are the sum of interest of all indebtedness, and estimated interest within rental expense. We have no amoritization of debt issuance costs, preference securities, or capitalized interest. Earnings were inadequate to cover fixed charges by $551,000, $688,000, $847,000, $914,000, and $746,000, for the nine months ended September 30, 2001 and 2000 and for the years ended December 31, 2000, 1999, and 1998, respectively. The financial information included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2000, and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2001 is incorporated by reference.