EX-12.1 24 ex12-1.htm EXHIBIT 12.1 ex12-1.htm

Exhibit 12.1

 

 

 

ExamWorks Group, Inc.

  

Computation of Ratio of Earnings to Fixed Charges

  
                                         
                                         
   

For the year ended December 31,

  
   

2010

    

2011

    

2012

    

2013

    

2014

  

Income (loss) before income taxes:

   $ (8,522 )   $ (12,415 )   $ (22,926 )   $ (15,572 )   $ 14,929  

Fixed charges

     9,503       19,143       31,868       33,973       37,774  

Earnings

   $ 981     $ 6,728     $ 8,942     $ 18,401     $ 52,703  
                                         

Fixed charges:

                                        

Interest expense

   $ 7,316     $ 14,534     $ 26,467     $ 27,661     $ 29,853  

Deferred financing cost amortization

     871       1,941       2,190       2,191       2,317  

Interest cost in rental expense

     1,316       2,668       3,211       4,121       5,604  
    $ 9,503     $ 19,143     $ 31,868     $ 33,973     $ 37,774  
                                         

Ratio of Earnings to Fixed Charges

     0.1       0.4       0.3       0.5       1.4  

Deficiency

   $ 8,522     $ 12,415     $ 22,926     $ 15,572     $ -  

 

 

For the purposes of computing the ratio of earnings to fixed charges, earnings consist of income (loss) before income taxes plus fixed charges. Fixed charges consist of interest costs, amortization of deferred financing costs and an estimate of the interest cost in rental expense.