EX-12.1 2 ex12-1.htm EXHIBIT 12.1 ex12-1.htm
 
Exhibit 12.1
 
RATIO OF EARNINGS TO FIXED CHARGES
 
   
Year Ended December 31
   
For the period
from July 9, 2007
through
December 31, 2007
 
(dollars in thousands)
 
2011
   
2010
   
2009
   
2008
   
2007
 
                               
Net income (loss) attributable to common stockholders
  $ (9,442 )   $ 6,537     $ (2,350 )   $ 487     $ 867  
Additional fixed charge (interest expense)
  $ 11,856     $ 1,319     $ 14     $ -     $ -  
Earnings adjusted
  $ 2,414     $ 7,856     $ (2,336 )   $ 487     $ 867  
Ratio of earnings to fixed charges
    0.20       5.96    
NM(1)
   
NM(1)
   
NM(1)
 
 
__________________________________
 
(1)
Enterprise Acquisition Corp., the accounting acquirer in the merger with ARMOUR completed on November 6, 2009, was formed on July 9, 2007 as a development stage company with no operations.  Prior to November 6, 2009, the ratio of earnings to fixed charges is not a meaningful measure.