EX-12.1 4 exhibit121.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges for each of the periods indicated. To date we have not issued any preferred stock. Therefore, the ratio of earnings to combined fixed charges and preferred stock dividend requirements are the same as the ratio of earnings to fixed charges presented below (in thousands except for ratio calculation).
 
Fiscal Year Ended
 
 
 
January 1, 2012
December 30, 2012
December 29, 2013
December 28, 2014
January 3, 2016
 
9 Months Ended October 2, 2016
Loss before income taxes
$(7,544)
(12,296)

$(11,821)
$(13,011)
$(17,702)
 
$(15,222)
Add: Fixed charges(1)
 
 
 
 
 
 
 
Interest expense
36

61

54

85

82

 
109

Interest on rental expense
155

164

316

316

293

 
208

Preferred dividends
0

0

0

0

0

 
0

Total—fixed charges   
191

225

370

401

375

 
317

Earnings (losses)
$(7,353)
$(12,071)
$(11,451)
$(12,610)
$(17,327)

$(14,905)
Ratio of earnings to fixed charges(2)   
—

—

—

—

—

 
—


(1)
Fixed charges, which includes interest expense plus the portion of interest expense under operating leases deemed by us to be representative of the interest factor.
(2)
Due to our losses in the years ended January 1, 2012, December 30, 2012, December 29, 2013, December 28, 2014 and January 3, 2016 and the 9 months ended October 2, 2016, the ratio coverage was less than 1:1. Additional earnings of $7.5 million, $12.3 million, $11.8 million, $13.0 million and $17.7 million in 2011, 2012, 2013, 2014 and 2015, respectively, and $15.2 million in the 9 months ended October 2, 2016 would have been required to achieve a ratio of 1:1.