STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Our earnings were insufficient to cover fixed charges in each of the years in the five-year period ended December 31, 2000 and for the nine-month period ended September 30, 2001. Additional earnings of $0.1 million, $5.5 million, $10.6 million, $12.4 million and $25.4 million were necessary to provide a one-to-one coverage ratio for the years ended December 31, 1996, 1997, 1998, 1999 and 2000, respectively. Additional earnings of $18.8 million were necessary to provide a one-to-one coverage ratio for the nine-month period ended September 30, 2001. For the purpose of these calculations, "earnings" consist of income before taxes or loss from continuing operations, excluding the cumulative effect of a change in accounting principle, plus fixed charges, and "fixed charges" consist of interest expense incurred and the portion of rental expense deemed by us to be representative of the interest factor of rental payments under leases.
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Year Ended December 31, |
Nine Months Ended September 30, 2001 |
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1996 |
1997 |
1998 |
1999 |
2000 |
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(in thousands) |
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| Loss from continuing operations | $ | 133 | $ | 5,516 | $ | 10,604 | $ | 12,366 | $ | 25,360 | $ | 18,756 | ||||||
| Fixed charges | 3 | 152 | 389 | 756 | 1,120 | 743 | ||||||||||||
| Earnings (as defined) | $ | 130 | $ | 5,364 | $ | 10,215 | $ | 11,610 | $ | 24,240 | $ | 18,013 | ||||||
| Fixed charges: | ||||||||||||||||||
| Interest expense | $ | — | $ | 118 | $ | 356 | $ | 597 | $ | 933 | $ | 600 | ||||||
| Estimated interest within rent expense | 3 | 34 | 33 | 159 | 187 | 143 | ||||||||||||
| Total fixed charges | $ | 3 | $ | 152 | $ | 389 | $ | 756 | $ | 1,120 | $ | 743 | ||||||
| Deficiency of earnings available to cover fixed charges | $ | 133 | $ | 5,516 | $ | 10,604 | $ | 12,366 | $ | 25,360 | $ | 18,756 | ||||||
| Ratio of earnings to fixed charges | — | — | — | — | — | — | ||||||||||||