EXHIBIT 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)
Nine (9) months | ||||||||||||||||||||||||
ended | ||||||||||||||||||||||||
Years ended December 31, | September 30, | |||||||||||||||||||||||
(in thousands) | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||||||||||||||||||
Income (loss) before income tax | $ | (13,468 | ) | $ | (2,141 | ) | $ | (28,609 | ) | $ | (32,163 | ) | $ | (26,877 | ) | $ | (40,357 | ) | ||||||
Add: Fixed charges | 429 | 870 | 900 | 1,050 | 1,616 | 1,720 | ||||||||||||||||||
Earnings as defined | $ | (13,039 | ) | $ | (1,271 | ) | $ | (27,709 | ) | $ | (31,113 | ) | $ | (25,261 | ) | $ | (38,637 | ) | ||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expensed | $ | 162 | $ | 393 | $ | 414 | $ | 367 | $ | 677 | $ | 855 | ||||||||||||
Appropriate portion (1/3) of rental expense | 267 | 477 | 486 | 683 | 939 | 865 | ||||||||||||||||||
Total Fixed charges | $ | 429 | $ | 870 | $ | 900 | $ | 1,050 | $ | 1,616 | $ | 1,720 | ||||||||||||
Ratio of earnings to fixed charges | (2 | ) | (2 | ) | (2 | ) | (2 | ) | (2 | ) | (2 | ) |
(1) | For the purposes of computing the ratio of earnings to fixed charges, earnings consist of income (loss) from continuing operations before the cumulative effect of changes in accounting principle, plus fixed charges. Fixed charges consist of interest charges and that portion of rental payments under operating leases we believe to be an appropriate representation of interest, which is calculated as one-third of rental expenses expensed each period. | |
(2) | Earnings for the years ended December 31, 2002, 2003, 2004, 2005 and 2006 and for the nine months ended September 30, 2007, were insufficient to cover fixed charges by $13,039, $1,271, $27,709, $31,113, $25,261 and $38,637 (in thousands), respectively. |