EX-12.1 3 exhibit121-10kfye19.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

MITCHAM INDUSTRIES, INC.
Ratio of Earnings to Fixed Charges


 
Year Ended January 31,
 
2019
 
2018
 
2017
 
2016
 
2015
Earnings
 
 
 
 
 
 
 
 
 
(Loss) Income before income taxes
(18,377
)
 
(20,159
)
 
$
(31,339
)
 
$
(27,759
)
 
$
(10,186
)
Fixed charges (as outlined below)
278

 
245

 
846

 
932

 
1,142

Total earnings, as defined $
(18,099
)

(19,914
)

(30,493
)

(26,827
)

(9,044
)
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
Interest
72

 
47

 
$
653

 
$
739

 
$
902

Estimate of interest within rental expense
$
206

 
$
198

 
$
193

 
$
193

 
$
240

Total fixed charges
$
278


$
245


$
846


$
932


$
1,142

 
 
 
 
 
 
 
 
 
 
Ratio of (losses) earnings to fixed charges
*

 
*

 
*

 
*

 
*



*
Earnings for the years ended January 31, 2019, January 31, 2018, January 31, 2017, January 31, 2016 and January 31, 2015 were insufficient to cover fixed charges by $18,377, $20,159, $31,339, 27,759 and $10,186, respectively.