EX-12.1 2 d171011dex121.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,
2011
    Fiscal Year
Ended
December 31,
2012
    Fiscal Year
Ended
December 31,
2013
    Fiscal Year
Ended

December 31,
2014
    Fiscal Year
Ended

December 31,
2015
    Three Months
Ended
March 31,
2016
 

Fixed charges*

   $ 104      $ 92      $ 112      $ 121      $ 117      $ 444   

Earnings:

            

Pre-tax loss from continuing operations

   $ (14,327   $ (17,962   $ (47,484   $ (30,117   $ (58,587   $ (12,643

Fixed charges

   $ 104      $ 92      $ 112      $ 121      $ 117      $ 444   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings

   $ (14,223   $ (17,870   $ (47,372   $ (29,996   $ (58,470   $ (12,199
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Preference dividends**

     NA        NA        NA        NA        NA        NA   

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

     (a)        (b)        (c)        (d)        (e)        (f)   

 

* 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 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 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 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 million.
(e) Earnings in the fiscal year ended December 31, 2015 were inadequate to cover combined fixed charges and preference dividends. The coverage deficiency was approximately $58.6 million.
(f) Earnings in the three months ended March 31, 2016 were inadequate to cover combined fixed charges and preference dividends. The coverage deficiency was approximately $12.6 million.