EX-12.01 3 a76716a1ex12-01.txt EXHIBIT 12.01 EXHIBIT 12.01 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In Thousands)
NINE MONTHS ENDED YEAR ENDED DECEMBER 31, SEPTEMBER 30, -------------------------------------------------------------------------- 1996 1997 1998 1999 2000 2000 2001 -------------------------------------------------------------------------- Earnings: Income (loss) Before Taxes 11,359 24,919 23,210 (5,736) (149,520) (136,442) (30,695) Adjust - Minority Interest - 43 126 (722) (7,582) (7,582) - -------------------------------------------------------------------------- PRE-TAX INCOME (LOSS) ADJUSTED FOR MINORITY INTEREST 11,359 24,962 23,336 (6,458) (157,102) (144,024) (30,695) ========================================================================== Fixed Charges: Interest Expense 478 81 4,460 5,747 4,231 3,963 1,013 Rent Expense (x 33.33%) 541 898 1,230 2,057 3,025 2,068 1,778 -------------------------------------------------------------------------- TOTAL FIXED CHARGES 1,019 979 5,690 7,804 7,256 6,031 2,791 ========================================================================== PRE-TAX INCOME (LOSS) ADJUSTED FOR MINORITY INTEREST PLUS TOTAL FIXED CHARGES 12,378 25,941 29,026 1,346 (149,846) (137,993) (27,904) ========================================================================== Ratio of Earnings to Fixed Charges (1) 12.15 26.50 5.10 (A) (B) (C) (D)
(1) The ratio of earnings to fixed charges has been computed by dividing earnings available for fixed charges (earnings before income taxes and adjustment for minority interest in consolidated subsidiaries plus fixed charges) by fixed charges (interest expense plus portion of rental expense that represents interest). (A) Earnings were inadequate to cover fixed charges by $6,458. (B) Earnings were inadequate to cover fixed charges by $157,102. (C) Earnings were inadequate to cover fixed charges by $144,024. (D) Earnings were inadequate to cover fixed charges by $30,695.