EX-12.1 4 ex12-1.htm EX-12.1
Exhibit 12.1
 
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
 
 
    Twelve Months Ended December 31,      Three Months Ended  
(In thousands)
  
2011
    
2012
    
2013
    
2014
    
2015
    
March 31, 2016
  
Earnings
                                    
Pre-tax (loss) from continuing operations
  
$
(577
)
    
(2,747
)
    
(1,545
)
    
(145
)
    
(1,538
)
    
(1,510
  
Fixed charges
    
216
      
1,578
      
2,458
      
1,377
      
1,166
      
301
  
Total Earnings as defined
    
(361
)
    
(1,199
)
    
913
      
1,232
      
(372
)
    
(1,209
  
 
                                                
Fixed Charges
                                                
Interest whether expensed or capitalized
    
148
      
1,169
      
1,943
      
1,274
      
1,109
      
292
  
Amortization of premiums of discounts
    
46
      
350
      
481
      
72
      
21
      
-
  
Amortization of captalized expenses related to indebtedness
    
-
      
-
      
-
      
-
      
-
      
-
  
Estimated interest component of rental expense
    
22
      
29
      
34
      
31
      
36
      
9
  
Total Fixed Charges as defined
  
$
216
    
$
1,548
    
$
2,458
    
$
1,377
    
$
1,166
    
$
301
  
 
                                                
Coverage Deficiency
  
$
577
    
$
2,747
      
N/A
      
N/A
    
$
1,538
    
$
1,510
  
 
                                                
Ratio of Earnings to Fixed Charges
    
N/A
      
N/A
      
37.14
      
89.47
      
N/A
      
N/A
  
 
 
The interest portion of rent expense was calculated as 5% of rent expense, which is an estimate of the company's incremental borrowing rate.