EX-12.1 7 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio 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,
2004
  Year Ended
June 30,
2005
  Year Ended
June 30,
2006
    Year Ended
June 30,
2007
    Year Ended
June 30,
2008
    Six Months
Ended
December 31,
2008
 

Income (loss) from continuing operations, before income taxes

  $ 32,233   $ 43,123   $ (18,360 )   $ (37,182 )   $ (32,975 )   $ (18,112 )
                                           

Fixed charges:

           

Interest expense

    1,304     3,448     3,262       3,395       2,517       1,367  

Portion of rental expense representative of interest factor

    366     593     766       964       1,459       660  

Amortization of deferred financing fees

    137     718     840       846       846       423  
                                           

Total fixed charges

  $ 1,807   $ 4,759   $ 4,868     $ 5,205     $ 4,822     $ 2,450  
                                           

Income (loss) from continuing operations, before income taxes plus fixed charges

  $ 34,040   $ 47,882   $ (13,492 )   $ (31,977 )   $ (28,153 )   $ (15,662 )
                                           

Ratio of earnings to fixed charges (A)

    18.8     10.1     (2.8 )     (6.1 )     (5.8 )     (6.4 )
                                           

Coverage deficiency

  $ —     $ —     $ 18,360     $ 37,182     $ 32,975     $ 18,112  
                                           

 

(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.