EX-12.1 5 a2233050zex-12_1.htm EX-12.1

Exhibit 12.1

 

Tactile Systems Technology, Inc.

Computation of Ratios of Earnings to Fixed Charges and Preferred Stock Dividends

 

 

 

Six Months
Ended
June 30,

 

Year Ended December 31,

 

(Dollars in thousands)

 

2017

 

2016

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before income taxes

 

$

(2,083

)

$

4,310

 

$

3,257

 

$

3,795

 

 

 

 

 

 

 

 

 

 

 

Plus: Fixed Charges

 

—

 

—

 

—

 

1

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

$

(2,083

)

$

4,310

 

$

3,257

 

$

3,796

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

Interest on short-term borrowings and long-term debt

 

$

—

 

$

—

 

$

—

 

$

1

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

$

—

 

$

—

 

$

—

 

$

1

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges(1)

 

N/A

 

N/A

 

N/A

 

N/M

 

 

 

 

 

 

 

 

 

 

 

Preferred Stock Dividends(2)

 

$

—

 

$

1,867

 

$

4,311

 

$

3,225

 

 

 

 

 

 

 

 

 

 

 

Combined Fixed Charges and Preferred Stock Dividends

 

$

—

 

$

1,867

 

$

4,311

 

$

3,226

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

N/A

 

2.31

 

0.76

 

1.18

 

 

 

 

 

 

 

 

 

 

 

Deficiency of Earnings Available to Cover Combined Fixed Charges and Preferred Stock Dividends

 

N/A

 

N/A

 

$

(1,054

)

N/A

 

 

(1)         For the six months ended June 30, 2017, the year ended December 31, 2016 and the year ended December 31, 2015, there were no fixed charges, and therefore the ratio is not applicable.  For the year ended December 31, 2014, earnings exceeded fixed charges by $3.8 million, and therefore the ratio is not meaningful.

 

(2)         Preferred stock dividends represent the amount of pre-tax earnings required to pay dividends on outstanding shares of preferred stock during the period and is computed as the amount of the dividend divided by the result of 1 minus the effective income tax rate. There were no shares of preferred stock outstanding during the six months ended June 30, 2017.