EX-12.1 4 ex12-1.htm EXHIBIT 12.1: STATEMENT OF COMPUTATION OF RATIOS ex12-1.htm
 

Exhibit 12.1
 
 
EMCORE CORPORATION AND SUBSIDIARIES
  
Ratio of Earnings to Fixed Charges
  
(In thousands, except ratio)
  
                               
                               
   
Year Ended September  30,
  
   
2008
    
2007
    
2006
    
2005
    
2004
  
Fixed charges, as defined by the Securities and Exchange Commission:
                              
 
                              
                               
Interest on long-term debt
  
$
1,580
    
$
4,985
    
$
5,352
    
$
4,844
    
$
6,156
  
Imputed interest in rents
  
 
533
    
 
533
    
 
700
    
 
633
    
 
767
  
     Total Fixed Charges*
  
$
2,113
    
$
5,518
    
$
6,052
    
$
5,477
    
$
6,923
  
                                         
                                         
                                         
Earnings, as defined by the Securities and Exchange Commission:
                                        
 
                                        
                                         
Earnings from continuing operations before income taxes
  
$
(80,860
)
  
$
(58,722
)
  
$
46,891
    
$
(24,685
)
  
$
(28,376
) 
Fixed charges as above
    
2,113
      
5,518
      
6,052
      
5,477
      
6,923
  
                                         
Earnings Available for Fixed Charges
  
$
(78,747
)
  
$
(53,204
 )
  
$
52,943
    
$
(19,208
 )
  
$
(21,453
)
                                         
Ratio of Earnings to Fixed Charges
    
N/M
**
    
N/M
**
    
10
      
N/M
**
    
N/M
**
                                         
 
*Fixed Charges consist of interest expense and our estimate of an appropriate portion of rentals representative of the interest factor. The estimate of interest within rental expense is estimated to be one-third of rental expense.
 
**The ratio of earnings to fixed charges for the six-months ended March 31, 2009 and for the years ended September 30, 2008, 2007, 2005 and 2004 are not meaningful since earnings available for fixed charges is negative for those periods.  The shortfall in the earnings available for fixed charges to achieve a ratio of earnings to fixed charges of 1.00 amounted to $77.1 million for the six months ended March 31, 2009 and $80.9 million, $58.7 million, $24.7 million, and 28.4 million for the years ended September 30, 2008, 2007, 2005 and 2004 respectively.