EX-12.1 2 ex12-1.htm EX-12.1

Exhibit 12.1
 
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
 
 
  
Twelve Months Ended December 31,
  
(In thousands)
  
2011
    
2012
    
2013
    
2014
    
2015
    
2016
  
Earnings
                                    
Pre-tax (loss) from continuing operations
  
$
(577
)
    
(2,747
)
    
(1,545
)
    
(145
)
    
(1,538
)
    
(783
)
Fixed charges
    
216
      
1,578
      
2,458
      
1,377
      
1,166
      
2,063
  
Total Earnings as defined
    
(361
)
    
(1,199
)
    
913
      
1,232
      
(372
)
    
1,280
  
 
                                                
Fixed Charges
                                                
Interest whether expensed or capitalized
    
148
      
1,169
      
1,943
      
1,274
      
1,109
      
2,012
  
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
      
51
  
Total Fixed Charges as defined
  
$
216
    
$
1,548
    
$
2,458
    
$
1,377
    
$
1,166
    
$
2,063
  
 
                                                
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
      
62.05
  
 
The interest portion of rent expense was calculated as 5% of rent expense, which is an estimate of the company's incremental borrowing rate.