EX-12.1 2 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES. Ratio of Earnings to Fixed Charges.

EXHIBIT 12.1

MERCURY COMPUTER SYSTEMS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

 

    

Year Ended

June 30,

2003

  

Year Ended

June 30,

2004

  

Year Ended

June 30,

2005

  

Year Ended

June 30,

2006

   

Year Ended

June 30,
2007

   

Three Months

Ended

September 30,

2007

 

Income (loss) before income taxes

   $ 32,870    $ 32,233    $ 43,123    $ (17,110 )   $ (35,529 )   $ (1,692 )
                                             

Fixed charges:

               

Interest expense

     923      1,304      3,448      3,262       3,395       845  

Portion of rental expense representative of interest factor

     310      366      593      805       1,010       383  

Amortization of deferred financing fees

     —        137      718      840       846       211  
                                             

Total fixed charges

   $ 1,233    $ 1,807    $ 4,759    $ 4,907     $ 5,251     $ 1,439  
                                             

Income (loss) before income taxes plus fixed charges

   $ 34,103    $ 34,040    $ 47,882    $ (12,203 )   $ (30,278 )   $ (253 )
                                             

Ratio of earnings to fixed charges (A)

     27.7      18.8      10.1      (2.5 )     (5.8 )     (0.2 )
                                             

Coverage deficiency

   $ —      $ —      $ —      $ 17,110     $ 35,529     $ 1,692  
                                             

(A) The ratio of earnings to fixed charges is calculated by dividing (a) earnings before income taxes and fixed charges by (b) fixed charges. Fixed charges include interest expense (including an estimate of the interest within rental expense) and amortization of deferred financing fees.