EXHIBIT 12.1
| Statement Regarding the Computation of Ratio of Earnings to Fixed Charges | |||||||||||||||
| YEAR ENDED MARCH 31, | |||||||||||||||
| (amounts in thousands) | 1999 | 2000 | 2001 | 2002 | 2003 |
Nine months ended December 31, 2003 |
|||||||||
| PRE-TAX LOSS FROM CONTINUING OPERATIONS | $ (19,224) | $ (28,848) | $ (74,399) | $ (9,105) | $ (11,403) | $ (1,507) | |||||||||
| ========== | ========== | ========== | ========== | ========== | ============= | ||||||||||
| FIXED CHARGES: | |||||||||||||||
| Interest Expense | - | 391 | 1,456 | 884 | - | - | |||||||||
| Rental Expense (33%) | 259 | 387 | 466 | 515 | 510 | 152 | |||||||||
| TOTAL FIXED CHARGES | 259 | 778 | 1,922 | 1,399 | 510 | 152 | |||||||||
| ========== | ========== | ========== | ========== | ========== | ============= | ||||||||||
| EARNINGS: | |||||||||||||||
| Pre-tax loss from continuing operations plus fixed charges | $ (18,965) | $ (28,070) | $ (72,477) | $ (7,706) | $ (10,893) | $ (1,355) | |||||||||
| ========== | ========== | ========== | ========== | ========== | ============= | ||||||||||
| RATIO OF EARNING TO FIXED CHARGES | - | - | - | - | - | - | |||||||||
| ========== | ========== | ========== | ========== | ========== | ============= | ||||||||||
Due to losses incurred for the nine months ended December 31, 2003 and years ended March 31, 2003, 2002, 2001, 2001 and 1999 we would have had to generate additional earnings of $1.5 million, $11.4 million, $9.1 million, $74.4 million, $28.8 million and $19.2 million, respectively, to achieve a coverage of 1:1.