EX-12.1 4 dex121.htm RATIO OF EARNINGS RATIO OF EARNINGS

EXHIBIT 12.1

MERCURY COMPUTER SYSTEMS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

 

    

Year Ended

June 30,

2002

  

Year Ended

June 30,

2003

  

Year Ended

June 30,

2004

  

Year Ended

June 30,

2005

  

Year Ended

June 30,

2006

   

Nine Months
Ended

March 31,
2007

 

Income (loss) before income taxes

   $ 21,983    $ 32,870    $ 32,233    $ 43,123    $ (17,110 )   $ (18,102 )
                                            

Fixed charges:

                

Interest expense

     987      923      1,441      4,166      4,102       3,394  

Portion of rental expense representative of interest factor

     203      310      366      593      805       650  

Amortization of deferred financing fees

     —        —        137      718      840       634  
                                            

Total fixed charges

   $ 1,190    $ 1,233    $ 1,944    $ 5,477    $ 5,747     $ 4,678  
                                            

Income before income taxes plus fixed charges

   $ 23,173    $ 34,103    $ 34,177    $ 48,600    $ (11,363 )   $ (13,424 )
                                            

Ratio of earnings to fixed charges (A)

     19.5      27.7      17.6      8.9      (2.0 )     (2.9 )
                                            

Coverage deficiency

   $ —      $ —      $ —      $ —      $ 17,110     $ 18,102  
                                            

(A) The ratio of earnings to fixed charges is calculated by dividing (a) earnings before income taxes and fixed charges by (b) fixed charges. Fixed charges include interest expense (including an estimate of the interest within rental expense) and amortization of deferred financing fees.