EX-12.1 5 exhibit12-1.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Filed by Automated Filing Services Inc. (604) 609-0244 - Net 1 UEPS Technologies, Inc. - Exhibit 12.1

Exhibit 12.1

Calculation of Ratio of Earnings to Fixed Charges

    Three                                
    Months                                
    Ended                                
    September                                
    30,                 Fiscal Year Ended              
    2006     2006     2005     2004     2003     2002  
                                     
Fixed charges                                    
Interest expensed and capitalized   2,333     8,749     13,952     11,778     5,470     1,879  
Amortized premiums, discounts and capitalized                                    
   expenses related to indebtedness                        
Estimate of the interest within rental expense   83     297     306     270     198     171  
Preference security dividend requirements of                                    
   consolidated subsidiaries                        
                                     
   Total Fixed charges   2,416     9,046     14,258     12,048     5,668     2,050  
                                     
Earnings                                    
Add   26,463     104,548     87,950     51,166     27,535     16,289  
Pretax income from continuing operations                                    
   before adjustment for minority interests in                                    
   consolidated subsidiaries or income or loss                                    
   from equity investees   24,047     95,502     73,692     39,118     21,867     14,239  
Fixed charges   2,416     9,046     14,258     12,048     5,668     2,050  
Amortization of capitalized interest                        
Distributed income of equity investees                        
Share of pre-tax losses of equity investees for                                    
   which charges arising from guarantees are                                    
   included in fixed charges                        
                                     
Less   325                 716     265  
Interest capitalized                        
Preference security dividend requirements of                                    
   consolidated subsidiaries                        
Minority interest in pre-tax income of                                    
   subsidiaries that have not incurred fixed                                  
   charges   325                   716     265  
                                     
   Total Earnings   26,138     104,548     87,950     51,166     26,819     16,024  
                                     
Ratio of earnings to fixed charges   10.82     11.56     6.17     4.25     4.73     7.82