EX-12.1 3 dex121.htm STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

 

MERCURY COMPUTER SYSTEMS, INC.

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

     Year ended June 30,
   

Nine months
ended

March 31,
2004

     1999
    2000
    2001
    2002
    2003
   

Income before income taxes

    $ 20,093    $ 36,345    $ 45,124    $ 21,983    $ 32,870    $ 18,762
    
  
  
  
  
  

Fixed charges:

                                          

Interest expense

      51      731      1,065      987      923      664

Rentals:

                                          

Buildings, office equipment and other

      372      175      158      278      310      264
    
  
  
  
  
  

Total fixed charges

    $ 423    $ 906    $ 1,223    $ 1,265    $ 1,233    $ 928
    
  
  
  
  
  

Income before income taxes plus fixed charges

    $ 20,516    $ 37,251    $ 46,347    $ 23,248    $ 34,103    $ 19,690
    
  
  
  
  
  

Ratio of earnings to fixed charges

      48.5      41.1      37.9      18.4      27.7      21.2
    
  
  
  
  
  

 

The ratio of earnings to fixed charges is calculated by dividing (a) earnings before income taxes, adjusted for fixed charges, by (b) fixed charges. Fixed charges include interest expense under operating leases that Mercury deems a reasonable approximation of the interest factor.