EXHIBIT 12.1
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
Three | Three | ||||||
Months | Year | Year | Year | Year | Months | Year | |
Ended | Ended | Ended | Ended | Ended | Ended | Ended | |
Mar. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31, | Dec. 31 | Sept. 30, | |
2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2001 | |
Fixed charges computation: | |||||||
Interest expense | $ - | $ - | $ - | $ 7 | $ 46 | $ 15 | $ 1,970 |
Portion of rent expense | |||||||
representative of an | |||||||
interest factor (a) | 33 | 149 | 141 | 127 | 107 | 27 | 91 |
Total fixed charges | 33 | 149 | 141 | 134 | 153 | 42 | 2,061 |
Earnings computation: | |||||||
Pre-tax loss before equity in | |||||||
Losses of affiliates per | |||||||
consolidated statement of | |||||||
operations | (3,264) | (14,949) | (9,121) | (1,731) | (1,569) | (17,161) | 20,736 |
Add: Fixed charges | 33 | 149 | 141 | 134 | 153 | 42 | 2,061 |
$(3,231) | $(14,800) | $(8,980) | $ (1,597) | $(1,416) | $(17,119) | $22,797 | |
Ratio of earnings to fixed | - | - | - | - | - | - | 11 |
charges (b) | |||||||
- The interest factor was calculated to be twenty percent (20%) of rental expense under operating leases and is considered to be a representative interest factor.
- For the three months ended March 31, 2006, the years ended December 31, 2005, 2004, 2003 and 2002 and the three months ended December 31, 2001, our earnings were insufficient to cover our fixed charges by approximately $3,264, $14,949, $9,121, $1,731, $1,569 and $17,161 thousand, respectively.