EXHIBIT 12.1
ENTERCOM COMMUNICATIONS CORP.
Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to
Combined Fixed Charges and Preferred Stock Dividends
Fiscal Year Ended Fiscal Year Ended
September 30, December 31,
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1997 1998 1999 2000 2001
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FIXED CHARGES:
Interest expense $ 11,388 $ 14,663 $ 11,182 $ 37,760 $ 27,583
Interest expense on TIDES - - 1,845 7,813 7,813
Amortization of deferred financing costs 592 453 320 859 865
Rental expense interest factor (1) 660 840 1,249 2,083 2,374
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Total fixed charges $ 12,640 $ 15,956 $ 14,596 $ 48,515 $ 38,635
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EARNINGS:
Income before income taxes, extraordinary items
and accounting changes $177,259 $ 9,892 $ 40,954 $ 79,050 $ 30,028
Loss on equity investment - - - 1,100 4,706
Fixed charges 12,640 15,956 14,596 48,515 38,635
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Total earnings $189,899 $ 25,848 $ 55,550 $ 128,665 $ 73,369
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RATIO OF EARNINGS TO FIXED CHARGES:
Earnings $189,899 $ 25,848 $ 55,550 $ 128,665 $ 73,369
Fixed charges 12,640 15,956 14,596 48,515 38,635
Ratio 15.02 1.62 3.81 2.65 1.90
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS:
Earnings $189,899 $ 25,848 $ 55,550 $ 128,665 $ 73,369
Fixed charges $ 12,640 $ 15,956 $ 14,596 $ 48,515 $ 38,635
Preferred stock dividends $ - $ - $ - $ - $ -
Ratio 15.02 1.62 3.81 2.65 1.90
(1) Represents the component of rent expense believed by Management to be
representative of the interest factor (one-third of rent expense).