EX-12.1 4 ex12-1.htm STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES ex12-1.htm
Exhibit 12.1

Statement of Ratios of Earnings to Fixed Charges

   
Year ended December 31,
  
   
2013
    
2012
    
2011
    
2010
    
2009
  
Earnings:
                              
Earnings (loss) before provision (benefit) for income taxes
   $ 15,165     $ 997     $ 7,872     $ 15,580     $ (9,695 )
Fixed charges
     1,789       1,149       1,100       1,133       733  
Total earnings (loss)
     16,954       2,146       8,972       16,713       (8,962 )
                                         
                                         
Fixed Charges:
                                        
Interest expense
     156       16       -       -       -  
Estimate of interest within rental expense
     1,633       1,133       1,100       1,133       733  
Total fixed charges
     1,789       1,149       1,100       1,133       733  
                                         
Ratio of earnings to fixed charges (a)
     10.6 %     53.5 %     12.3 %     6.8 %     -  
                                         
(a) In 2009, we incurred losses from operations, and as a result, our pre-tax earnings were insufficient to cover our fixed charges by $9.7 million.