S-3: Registration statement for specified transactions by certain issuers
Published on July 26, 2004
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Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The ratios of earnings to fixed charges is set forth below. We have calculated the ratio of earnings to fixed charges by adding net income (loss) from continuing operations to fixed charges and dividing that sum by such fixed charges. Fixed charges consist of interest expense and amortization of deferred financing costs.
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Year Ended December 31, |
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For the Three Months Ended March 31, 2004 |
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1999 |
2000 |
2001 |
2002 |
2003 |
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Unaudited (in thousands except ratios) |
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| RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||
| Net income (loss) from continuing operations | $ | 18,966 | $ | (43,250 | ) | $ | (15,588 | ) | $ | (3,744 | ) | $ | 23,341 | $ | (9,945 | ) | ||||
| Interest expense | 42,947 | 42,400 | 33,204 | 27,381 | 23,388 | 24,253 | ||||||||||||||
| Earnings | $ | 61,913 | $ | (850 | ) | $ | 17,616 | $ | 23,637 | $ | 46,729 | $ | 14,308 | |||||||
| Interest expense | $ | 42,947 | $ | 42,400 | $ | 33,204 | $ | 27,381 | $ | 23,388 | $ | 24,253 | ||||||||
| Total fixed charges | $ | 42,947 | $ | 42,400 | $ | 33,204 | $ | 27,381 | $ | 23,388 | $ | 24,253 | ||||||||
| Ratio of earnings to fixed charges | 1.4x | * | * | * | 2.0x | * | ||||||||||||||
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- Our earning were insufficient to cover our fixed charges by $43,250, $15,588, $3,744 and $9,945 in 2000, 2001, 2002 and the three months ended March 31, 2004, respectively.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES