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Content analysis
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H.S. freshman Good
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Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in thousands)
|
| For the Three Months |
| ||||
|
| 2007 |
| 2006 |
| ||
Fixed Charges Computation: |
|
|
|
|
| ||
Preferred stock dividend |
| $ | 1,555 |
| $ | 865 |
|
Interest expense, including amortization of debt issuance costs |
| 2,470 |
| 1,498 |
| ||
Assumed interest element included in rent expense |
| 372 |
| 292 |
| ||
Total fixed charges and preferred dividends |
| $ | 4,397 |
| $ | 2,655 |
|
|
|
|
|
|
| ||
Earnings Computation: |
|
|
|
|
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Loss before income taxes, equity in income (loss) of investees and minority interests |
| (26,216 | ) | (1,041 | ) | ||
|
|
|
|
|
| ||
Less: |
|
|
|
|
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Preferred stock dividend |
| (1,555 | ) | (865 | ) | ||
Minority interests |
| (183 | ) | 295 |
| ||
Add: |
|
|
|
|
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Fixed charges |
| 4,397 |
| 2,655 |
| ||
Earnings as adjusted |
| $ | (23,557 | ) | $ | 1,044 |
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|
|
|
|
|
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Ratio of earnings to fixed charges |
| N/M | (1) | 0.7x |
| ||
Ratio of earnings to fixed charges and preferred dividends |
| N/M | (1) | 0.4x |
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(1) For the three months ended March 31, 2007, earnings were not sufficient to cover fixed charged plus preferred dividends by approximately $28.0 million.