Exhibit 12.1

Computation of Ratio of Earnings
to Fixed Charges

Emcore Corporation
Calculation of Ratio of Earnings to Fixed Charges

				1999				2000				2001				2002				2003
Fixed Charges:
Interest expense				$	1,617			$	342			$	3,240			$	8,856			$	8,288
Amortized financing costs					—				—				556				1,300				982
Total fixed charges					1,617				342				3,796				10,156				9,270
Earnings:
Net loss					(21,355	)			(25,485	)			(8,642	)			(129,761	)			(38,525	)
Equity in unconsolidated affiliates					4,997				13,265				12,326				2,706				1,228
Fixed charges					1,617				342				3,796				10,156				9,270
Total earnings					($14,741	)			($11,878	)		$	7,480				($116,899	)			($28,027	)
Ratio of earnings to fixed charges					(9.12	)			(34.73	)			1.97				(11.51	)			(3.02	)
Total insufficiency					($16,358	)			($12,220	)			—				($127,055	)			($37,297	)