EX-12 3 a16-5065_1ex12.htm EX-12

EXHIBIT 12

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)

 

 

 

Nine months

 

 

 

 

 

 

 

 

 

 

 

 

 

ended

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

Fiscal Years

 

 

 

2015

 

2014

 

2013

 

2012

 

2011

 

2010

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

$

(48,571

)

$

(41,223

)

$

410

 

$

2,960

 

$

1,125

 

$

(6,831

)

Fixed charges to add to earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense(1)

 

5,432

 

4,108

 

58

 

63

 

60

 

12

 

Rent interest factor(2)

 

674

 

528

 

477

 

395

 

410

 

394

 

Total fixed charges

 

6,106

 

4,636

 

534

 

458

 

470

 

406

 

Earnings before income taxes and fixed charges

 

$

(42,465

)

$

(36,587

)

$

944

 

$

3,418

 

$

1,595

 

$

(6,425

)

Ratio of earnings to fixed charges(3)

 

(7.0

)

(7.9

)

1.8

 

7.5

 

3.4

 

(15.8

)

 

(1)                                 Interest expense includes amortization of debt issuance costs in 2014 and the nine months ended September 30, 2015 of $0.6 million and $0.7 million, respectively

(2)                                 Approximately one-third of rental expense is deemed representative of the interest factor.

(3)                                 For 2010, 2014 and the nine months ended September 30, 2015, earnings were insufficient to cover fixed charges by $6.8 million, $41.2 million and $48.6 million, respectively.