EX-12.1 3 d112904dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

(in thousands “000’s”)

 

    

Fiscal Year

Ended

December 31,

2010

    

Fiscal Year

Ended

December 31,

2011

   

Fiscal Year

Ended

December 31,

2012

   

Fiscal Year

Ended

December 31,

2013

   

Fiscal Year

Ended

December 31,

2014

   

Nine Months

Ended

September 30,

2015

 

Fixed charges*

   $ 101       $ 104      $ 92      $ 112      $ 121      $ 81   

Earnings:

             

Pre-tax income (loss) from continuing operations

   $ 408       $ (14,327   $ (17,962   $ (47,484   $ (30,117   $ (36,285

Fixed charges

   $ 101       $ 104      $ 92      $ 112      $ 121      $ 81   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings

   $ 509       $ (14,223   $ (17,870   $ (47,372   $ (29,996   $ (36,204
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Preference dividends**

     NA         NA        NA        NA        NA        NA   

Ratio of earnings to combined fixed charges and preference dividends**

     5:1              (a)           (b)           (c)           (d)           (e) 

 

* Represents estimated interest associated with certain facility and equipment at an assumed rate of 33% of total rent expense, which management believes is a reasonable approximation of the interest factor.
** We had no outstanding shares of preferred stock in any of the periods shown and, accordingly, did not accrue or pay any preference dividends.
(a) Earnings in the fiscal year ended December 31, 2011 were inadequate to cover combined fixed charges and preference dividends. The coverage deficiency was approximately $14.2 million.
(b) Earnings in the fiscal year ended December 31¸ 2012 were inadequate to cover combined fixed charges and preference dividends. The coverage deficiency was approximately $17.9 million.
(c) Earnings in the fiscal year ended December 31, 2013 were inadequate to cover combined fixed charges and preference dividends. The coverage deficiency was approximately $47.2 million.
(d) Earnings in the fiscal year ended December 31,2014 were inadequate to cover combined fixed charges and preference dividends. The coverage deficiency was approximately $30.0 million.
(e) Earnings in the nine months ended September 30,2015 were inadequate to cover combined fixed charges and preference dividends. The coverage deficiency was approximately $36.2 million.