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Previous: SBA COMMUNICATIONS CORP, S-3/A, EX-4.3, 2000-07-18 |
Next: SBA COMMUNICATIONS CORP, S-3/A, EX-23.1, 2000-07-18 |
<PAGE>
EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES COMPUTATIONS
($ in thousands)
<TABLE>
<CAPTION>
Ratio of Earnings to Fixed Charges Computations Year ended Year Ended Year Ended
12/31/1995 12/31/1996 12/31/1997
------------------------------------------------
<S> <C> <C> <C>
Earnings:
Income before taxes 3,298 3,300 5,863
Plus: fixed charges, less preferred dividends 101 495 876
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Total Earnings 3,399 3,795 6,739
Fixed Charges:
Interest Expense 11 139 407
Preferred dividends - - 983
Interest Component of Operating Leases 90 356 469
------------------------------------------------
Total Fixed Charges 101 495 1,859
Ratio 33.8x 7.7x 3.6x
DEFICIENCY OF EARNINGS TO FIXED CHARGES COMPUTATION
($ in thousands)
<CAPTION>
Three months
Year ended Year Ended Ended
12/31/98 12/31/99 03/31/00
-----------------------------------------------
<S> <C> <C> <C>
Earnings:
Loss before taxes (21,425) (33,664) (9,499)
Plus: fixed charges, less preferred dividends 17,677 28,216 9,353
-----------------------------------------------
Total Earnings (3,748) (5,448) (146)
Fixed Charges:
Interest Expense 1,197 5,244 2,907
Preferred dividends 2,575 - -
Amortization of Original Issue Discount and Debt Issue Costs 15,710 22,064 6,213
Interest Component of Operating Leases 770 908 233
-----------------------------------------------
Total Fixed Charges 20,252 28,216 9,353
-----------------------------------------------
Total Deficiency $ 24,000 $ 33,664 $ 9,499
===============================================
</TABLE>
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