| Exhibit 12.1 |
| Computation of Ratios of Earnings to Fixed Charges | ||||||||||||||||||||||||
| Year ended December 31, | ||||||||||||||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | Nine months ended September 30, 2010 (Unaudited) | |||||||||||||||||||
| (Dollars in thousands, except ratios) | ||||||||||||||||||||||||
| Income (loss) before income taxes | $ | (2,594 | ) | $ | 727 | $ | (9,410 | ) | $ | (16,275 | ) | $ | (7,609 | ) | $ | (6,915 | ) | |||||||
| Interest expensed | 8 | 3 | 1 | 12 | -- | -- | ||||||||||||||||||
| Earnings (loss) before fixed charges | $ | (2,586 | ) | $ | 730 | $ | ( 9,409 | ) | $ | ( 16,263 | ) | $ | (7,609 | ) | $ | (6,915 | ) | |||||||
| Total fixed charges resulting | ||||||||||||||||||||||||
| Interest expensed | $ | 8 | $ | 3 | $ | 1 | $ | 12 | $ | -- | $ | -- | ||||||||||||
| Losses, as adjusted | ||||||||||||||||||||||||
| Ratio of earnings to fixed charges | (i) | 243.3 | (ii) | (iii) | (iv) | (iv) | ||||||||||||||||||
| (i) | Earnings as adjusted were inadequate to cover fixed charges by $2.6 million in 2005. |
| (ii) | Earnings as adjusted were inadequate to cover fixed charges by $9.4 million in 2007. |
| (iii) | Earnings as adjusted were inadequate to cover fixed charges by $16.3 million in 2008. |
| (iv) | We had no fixed charges for 2009 and the nine months ended September 30, 2010. |
