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

Exhibit 12.1
 
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
 
                              
(In thousands)
  
2013
    
2014
    
2015
    
2016
    
2017
  
Earnings
                              
Pre-tax (loss) from continuing operations
    
(1,545
)
    
(145
)
    
(1,538
)
    
(783
)
    
(5,626
)
Fixed charges
    
2,458
      
1,377
      
1,166
      
2,063
      
4,838
  
Total Earnings as defined
    
913
      
1,232
      
(372
)
    
1,280
      
(789
)
 
                                        
Fixed Charges
                                        
Interest whether expensed or capitalized
    
1,943
      
1,274
      
1,109
      
2,012
      
4,229
  
Amortization of premiums of discounts
    
481
      
72
      
21
      
-
      
246
  
Amortization of capitalized expenses related to indebtedness
    
-
      
-
      
-
      
-
      
285
  
Estimated interest component of rental expense
    
34
      
31
      
36
      
51
      
78
  
Total Fixed Charges as defined
  
$
2,458
    
$
1,377
    
$
1,166
    
$
2,063
    
$
4,838
  
 
                                        
Coverage Deficiency
    
N/A
      
N/A
    
$
1,538
      
N/A
    
$
5,627
  
 
                                        
Ratio of Earnings to Fixed Charges
    
37.14
      
89.47
      
N/A
      
62.05
      
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.