Exhibit 12.1
FiberTower Corporation
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
|
| Year Ended December 31, |
| ||||||||||
|
| 2003 |
| 2004 |
| 2005 |
| 2006 |
| ||||
Earnings |
|
|
|
|
|
|
|
|
| ||||
Loss from operations |
| $ | (5,722 | ) | $ | (12,411 | ) | $ | (24,362 | ) | $ | (56,372 | ) |
Other income (expense) |
|
|
|
|
|
|
|
|
| ||||
Interest expense |
| (37 | ) | (138 | ) | (223 | ) | (7,680 | ) | ||||
Interest income |
| 140 |
| 485 |
| 2,683 |
| 6,326 |
| ||||
Miscellaneous (expense) income, net |
| (7 | ) | (1 | ) | (7 | ) | 448 |
| ||||
Other income, net |
| 96 |
| 346 |
| 2,453 |
| (906 | ) | ||||
Net loss |
| $ | (5,626 | ) | $ | (12,065 | ) | $ | (21,909 | ) | $ | (57,278 | ) |
|
|
|
|
|
|
|
|
|
| ||||
Less Fixed Charges (Note 1) |
| $ | 276 |
| $ | 296 |
| $ | 679 |
| $ | 9,516 |
|
Total earnings (loss) available for fixed charges |
| $ | (5,350 | ) | $ | (11,769 | ) | $ | (21,230 | ) | $ | (47,762 | ) |
|
|
|
|
|
|
|
|
|
| ||||
(1) Fixed Charges: |
|
|
|
|
|
|
|
|
| ||||
Estimated interest portion of rent expense |
| 239 |
| 158 |
| 456 |
| 1,836 |
| ||||
Interest expense |
| 37 |
| 138 |
| 223 |
| 7,680 |
| ||||
Total fixed charges |
| $ | 276 |
| $ | 296 |
| $ | 679 |
| $ | 9,516 |
|
|
|
|
|
|
|
|
|
|
| ||||
Ratio of earnings to fixed charges (2) |
| — |
| — |
| — |
| — |
|
(2) Earnings were inadequate to cover fixed charges by $57.3 million $21.9 million, $12.1 million, and $5.6 million for the years ended December 31, 2006, 2005, 2004 and 2003, respectively.