EX-12.1 6 a16-3151_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Statement re Computation of Ratio of Earnings to Fixed Charges and Preference Dividends

 

 

 

 

 

 

 

 

 

Months

 

 

 

For the Year Ended

 

Ended

 

 

 

December 31,

 

September 30,

 

 

 

2012

 

2013

 

2014 

 

2015

 

 

 

(in thousands)

 

Earnings:

 

 

 

 

 

 

 

 

 

Loss before provision for income taxes

 

$

(33,855

)

$

(39,890

)

$

(31,950

)

$

(33,888

)

Add: Fixed charges, as below

 

340

 

3,241

 

6,323

 

4,238

 

Deficiency of earnings to fixed charges

 

$

(33,515

)

$

(36,649

)

$

(25,627

)

$

(29,650

)

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

Interest expense

 

$

6

 

$

2,934

 

$

6,016

 

$

4,002

 

 

 

 

 

 

 

 

 

 

 

Estimated interest portion of rent expense (1)

 

334

 

307

 

307

 

236

 

Total fixed charges

 

$

340

 

$

3,241

 

$

6,323

 

$

4,238

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

n/a

 

n/a

 

n/a

 

n/a

 

 

(1) Represents the estimated portion of operating lease rental expense that is considered by us to be representative of interest, which approximates one-third of the related total operating lease expense.

 

Earnings were insufficient to cover combined fixed charges by $33.5 million, $36.6 million, $25.6 million and $29.7 million for the years ended December 31, 2012, 2013, 2014 and for the nine months ended September 30, 2015, respectively.

 

For the periods indicated above, we had no outstanding shares of preferred stock with required dividend payments. Therefore, the ratio of earnings to fixed charges for preferred stock dividends are identical to the ratios presented in the tables above.