EX-12 3 ex12-1.htm EX-12.1

Exhibit 12.1
 
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
 
 
  
Twelve Months Ended December 31,
    
Nine Months Ended
  
(In thousands)
  
2011
    
2012
    
2013
    
2014
    
2015
    
September 30, 2016
  
Earnings
                                    
Pre-tax (loss) from continuing operations
  
$
(577
)
    
(2,747
)
    
(1,545
)
    
(145
)
    
(1,538
)
    
(970
)
Fixed charges
    
216
      
1,578
      
2,458
      
1,377
      
1,166
      
1,486
  
Total Earnings as defined
    
(361
)
    
(1,199
)
    
913
      
1,232
      
(372
)
    
516
  
 
                                                
Fixed Charges
                                                
Interest whether expensed or capitalized
    
148
      
1,169
      
1,943
      
1,274
      
1,109
      
1,461
  
Amortization of premiums of discounts
    
46
      
350
      
481
      
72
      
21
      
-
  
Amortization of capitalized expenses related to indebtedness
    
-
      
-
      
-
      
-
      
-
      
-
  
Estimated interest component of rental expense
    
22
      
29
      
34
      
31
      
36
      
25
  
Total Fixed Charges as defined
  
$
216
    
$
1,548
    
$
2,458
    
$
1,377
    
$
1,166
    
$
1,486
  
 
                                                
Coverage Deficiency
  
$
577
    
$
2,747
      
N/A
      
N/A
    
$
1,538
    
$
N/A
  
 
                                                
Ratio of Earnings to Fixed Charges
    
N/A
      
N/A
      
37.14
      
89.47
      
N/A
      
34.72
  
 
 
The interest portion of rent expense was calculated as 5% of rent expense, which is an estimate of the company's incremental borrowing rate.