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EXHIBIT 12.1
Computation of Ratios of Earnings to Fixed Charges and Preferred Stock Dividends
(table in thousands, except for ratios)
Three Months Ended
March 31, Year Ended December 31,
2003 2002 2002 2001 2000 1999 1998
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Fixed Charges
Interest expense $ 136 $ 101 $ 406 $ 316 $ 228 $ 231 $ 151
Estimated interest portion of rent
expense 119 101 407 430 619 683 595
------- ------- ------- ------- ------- ------- -------
Total Fixed Charges 255 202 813 746 847 914 746
(Loss) income from continuing operations
before income taxes (13,390) (15,764) (94,536) (36,790) (28,506) (16,822) (19,954)
Add: Fixed charges 255 202 813 746 847 914 746
Add: Preferred stock dividends -- -- -- -- -- -- --
Less: Equity in (earnings)/losses and
other adjustments of NPI -- -- -- -- -- 1,411 7,188
------- ------- ------- ------- ------- ------- -------
Earnings (loss) before fixed charges (13,135) (15,562) (93,723) (36,044) (27,659) (14,497) (12,020)
Ratio of earnings to fixed charges and
preferred stock dividends $ -- $ -- $ -- $ -- $ -- $ -- $ --
For the purpose of calculating the ratio of earnings to fixed charges and
preferred stock dividends, earnings are defined as consolidated income from
continuing operations before income taxes plus fixed charges. Fixed charges are
the sum of interest of all indebtedness, and estimated interest within rental
expense. We have no amortization of debt issuance costs, no outstanding shares
of preferred securities with required dividend payments, or capitalized
interest. Earnings were inadequate to cover fixed charges by $255,000, and
$202,000, and $813,000, $746,000, $847,000, $914,000, and $746,000, for the
three months ended March 31, 2003 and 2002 and for the years ended December 31,
2002, 2001, 2000, 1999, and 1998, respectively. The financial information
included in our Annual Report on Form 10-K for the fiscal year ended December
31, 2002, and our Quarterly Report on Form 10-Q for the quarter ended March 31,
2003 is incorporated by reference.