Exhibit 12.1

Volcano Corporation

Computation of Earnings to Fixed Charges Ratio

(Unaudited—in thousands)

	Years Ended December 31,
	2010		2009			2008			2007			2006
Earnings (loss)
Income (loss) before provision for income taxes	$	7,327	$	(27,767	)	$	(13,085	)	$	(26,052	)	$	(8,305	)
Fixed charges		4,330		1,895			1,208			996			4,595
Total		11,657		(25,872	)		(11,877	)		(25,056	)		(3,710	)
Fixed Charges
Interest expense on indebtedness and amortization of deferred financing costs	$	2,192	$	5		$	113		$	199		$	4,013
Interest component of rentals (1)		2,138		1,890			1,095			797			582
Total	$	4,330	$	1,895		$	1,208		$	996		$	4,595
Excess (deficiency of) earnings available to cover fixed charges	$	7,327	$	(27,767	)	$	(13,085	)	$	(26,052	)	$	(8,305	)

(1) Represents the estimated portion of operating lease rental expense that is considered by us to be representative of interest and amortization of discount related to indebtedness.