Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
For the Year Ended December 31, | Six-Months Ended June 30, | ||||||||||||||||||||||||||
2003 | 2004 | 2005 | 2006 | 2007 | 2007 | 2008 | |||||||||||||||||||||
Earnings (loss)- | |||||||||||||||||||||||||||
Loss before income taxes | $ | (29,388 | ) | $ | (93,479 | ) | $ | (88,628 | ) | $ | (78,298 | ) | $ | (29,469 | ) | $ | 4,530 | $ | (37,991 | ) | |||||||
Add fixed Charges: | |||||||||||||||||||||||||||
Interest expense on indebtedness | $ | 990 | $ | 4,480 | $ | 6,556 | $ | 8,676 | $ | 18,581 | 8,086 | 9,460 | |||||||||||||||
Estimated interest on rental expense | 300 | 1,611 | 1,948 | 1,959 | 1,733 | 820 | 894 | ||||||||||||||||||||
Amortization of deferred closing costs related to convertible notes | 156 | 521 | 816 | 827 | 1,324 | 548 | 778 | ||||||||||||||||||||
Amortization of discount on convertible notes | 271 | — | — | — | 7,649 | 1,945 | 6,189 | ||||||||||||||||||||
Total Adjusted Loss | $ | (27,621 | ) | $ | (86,867 | ) | $ | (79,273 | ) | $ | (66,836 | ) | $ | (182 | ) | $ | 15,929 | $ | (20,670 | ) | |||||||
Fixed Charges- | |||||||||||||||||||||||||||
Interest expense on indebtedness | $ | 990 | $ | 4,480 | $ | 6,556 | $ | 8,676 | $ | 18,581 | 8,086 | 9,460 | |||||||||||||||
Estimated interest on rental expense | 300 | 1,611 | 1,948 | 1,959 | 1,733 | 820 | 894 | ||||||||||||||||||||
Amortization of deferred closing costs related to convertible notes | 156 | 521 | 816 | 827 | 1,324 | 548 | 778 | ||||||||||||||||||||
Amortization of discount on convertible notes | 271 | — | — | — | 7,649 | 1,945 | 6,189 | ||||||||||||||||||||
Total Fixed Charges | $ | 1,717 | $ | 6,612 | $ | 9,320 | $ | 11,462 | $ | 29,287 | $ | 11,399 | $ | 17,321 | |||||||||||||
Coverage deficiency | $ | (29,388 | ) | $ | (93,479 | ) | $ | (88,628 | ) | $ | (78,298 | ) | $ | (29,469 | ) | $ | — | $ | (37,991 | ) | |||||||
Ratio of earnings to fixed charges | 1.4x |