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EXHIBIT 12.1
<Table>
<Caption>
Seven Months
Years Ended December 31, Ended Years Ended May 31,
------------------------------- December 31, ---------------------
2003 2002 2001 2000 2000 1999
-------- -------- -------- ------------ -------- ---------
EARNINGS:
Loss before income taxes $(22,804) $(61,955) $ 12,469 $ (8,974) $(80,060) $(155,240)
Fixed charges 4,214 4,295 8,377 3,384 5,958 1,015
-------- -------- -------- -------- -------- ---------
TOTAL EARNINGS $(18,590) $(57,660) $ 20,846 $ (5,590) $(74,102) $(154,225)
======== ======== ======== ======== ======== =========
FIXED CHARGES:
Interest expense $ 3,886 $ 3,042 $ 533 $ 611 $ 799 $ 870
Amortization of debt issuance costs 201 82 162 16 27 27
Estimated interest portion of rent expense 127 191 164 100 199 118
Preferred stock dividend -- 980 7,518 2,657 4,933 --
-------- -------- -------- -------- -------- ---------
TOTAL FIXED CHARGES $ 4,214 $ 4,295 $ 8,377 $ 3,384 $ 5,958 $ 1,015
======== ======== ======== ======== ======== =========
Ratio of Earnings to Fixed Charges(1) -- -- 2.5 -- -- --
</Table>
(1) For the years ended December 31, 2003 and 2002 and the seven months
ended December 31, 2000, and the years ended May 31, 2000 and 1999 earnings were
insufficient to cover fixed charges by approximately $22.8 million, $62.0
million, $9.0 million, $80.1 million and $155.2 million, respectively.