EX-12.1 7 a2234951zex-12_1.htm EX-12.1

Exhibit 12.1

 

Statement of Computation of Ratio of Earnings to Fixed Charges and Ratio of Combined Fixed Charges and Preferred Stock Dividends

 

 

 

Year ended December 31,

 

 

 

2013

 

2014

 

2015

 

2016

 

2017

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

1,213

 

$

9

 

$

13

 

$

21

 

$

13

 

Estimated interest within rental expense

 

164

 

179

 

167

 

191

 

498

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

1,378

 

$

188

 

$

180

 

$

212

 

$

511

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available for fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income (loss)

 

$

(60,259)

 

$

(16,422)

 

$

(17,592)

 

$

24,616

 

$

(49,388)

 

Add fixed charges

 

1,378

 

188

 

180

 

212

 

$

511

 

Total earnings available for fixed charges

 

$

(58,881)

 

$

(16,234)

 

$

(17,412)

 

$

24,828

 

$

(48,877)

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

N/A

(1)

N/A

(1)

N/A

(1)

117.16

 

N/A

(1)

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

1,213

 

$

9

 

$

13

 

$

21

 

$

13

 

Estimated interest within rental expense

 

164

 

179

 

167

 

191

 

498

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

1,378

 

188

 

180

 

212

 

511

 

Preferred stock dividends pre-tax income requirements

 

-    

 

-    

 

-    

 

-    

 

-    

 

Total Combined fixed charges and preferred stock dividends

 

$

1,378

 

$

188

 

$

180

 

$

212

 

$

511

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available for fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income (loss)

 

$

(60,259)

 

$

(16,422)

 

$

(17,592)

 

$

24,616

 

$

(49,388)

 

Add fixed charges

 

1,378

 

188

 

180

 

212

 

$

511

 

Total earnings available for fixed charges

 

$

(58,881)

 

$

(16,234)

 

$

(17,412)

 

$

24,828

 

$

(48,877)

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred stock dividends

 

N/A

(1)

N/A

(1)

N/A

(1)

117.16

 

N/A

(1)

 

 

 

 

(1)      We did not record earnings for the periods indicated in the table above. Accordingly, our earnings were insufficent to cover fixed charges for such periods and we are unable to disclose a ratio of earnings to fixed charges or a ratio of earnings to combined fixed charges for such periods.