EXHIBIT 12.01
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
THREE MONTHS ENDED
YEAR ENDED DECEMBER 31, MARCH 31,
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1997 1998 1999 2000 2001 2001 2002
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Earnings:
Income (loss) Before Taxes 24,919 23,210 (5,736) (149,520) (42,724) (7,715) (5,328)
Adjust - Minority Interest 43 126 (722) (7,582) -- -- --
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PRE-TAX INCOME (LOSS) ADJUSTED
FOR MINORITY INTEREST 24,962 23,336 (6,458) (157,102) (42,724) (7,715) (5,328)
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Fixed Charges:
Interest Expense 81 4,460 5,747 4,231 3,167 144 2,187
Rent Expense ( x 33.33%) 898 1,230 2,057 3,025 2,410 586 638
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TOTAL FIXED CHARGES 979 5,690 7,804 7,256 5,577 730 2,825
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PRE-TAX INCOME (LOSS) ADJUSTED
FOR MINORITY INTEREST
PLUS TOTAL FIXED CHARGES 25,941 29,026 1,346 (149,846) (37,147) (6,985) (2,503)
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Ratio of Earnings to Fixed Charges (1) 26.50 5.10 (A) (B) (C) (D) (E)
(1) The ratio of earnings to fixed charges has been computed by dividing
earnings available for fixed charges (earnings before income taxes and
adjustment for minority interest in consolidated subsidiaries plus fixed
charges) by fixed charges (interest expense plus portion of rental
expense that represents interest).
(A) Earnings were inadequate to cover fixed charges by $6,458.
(B) Earnings were inadequate to cover fixed charges by $157,102.
(C) Earnings were inadequate to cover fixed charges by $42,724.
(D) Earnings were inadequate to cover fixed charges by $7,715.
(E) Earnings were inadequate to cover fixed charges by $5,328.