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		     Six Months
Ended
December 31,
2007		  

Income (loss) before income taxes

    $ 32,870    $ 32,233    $ 43,123    $ (17,110 )   $ (35,529 )   $ (9,395 )
                                             

Fixed charges:

                

Interest expense

      923      1,304      3,448      3,262       3,395       1,685  

Portion of rental expense representative of interest factor

      310      366      593      805       1,010       732  

Amortization of deferred financing fees

      —        137      718      840       846       423  
                                             

Total fixed charges

    $ 1,233    $ 1,807    $ 4,759    $ 4,907     $ 5,251     $ 2,840  
                                             

Income (loss) before income taxes plus fixed charges

    $ 34,103    $ 34,040    $ 47,882    $ (12,203 )   $ (30,278 )   $ (6,555 )
                                             

Ratio of earnings to fixed charges (A)

      27.7      18.8      10.1      (2.5 )     (5.8 )     (2.3 )
                                             

Coverage deficiency

    $ —      $ —      $ —      $ 17,110     $ 35,529     $ 9,395  
                                             

 

(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.