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EXHIBIT 12.1
MERCURY SYSTEMS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
| Year Ended June 30, 2018 | Year Ended June 30, 2017 | Year Ended June 30, 2016 | Year Ended June 30, 2015 | Year Ended June 30, 2014 | ||||||||||||||||
| Income (loss) from continuing operations before income taxes | $ | 42,573 | $ | 31,068 | $ | 25,286 | $ | 18,795 | $ | (5,913 | ) | |||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest expense | $ | 2,850 | $ | 7,568 | $ | 1,172 | $ | 34 | $ | 49 | ||||||||||
Portion of rental expense representative of interest factor (1) | 2,156 | 2,565 | 1,325 | 1,246 | 1,390 | |||||||||||||||
| Total fixed charges | $ | 5,006 | $ | 10,133 | $ | 2,497 | $ | 1,280 | $ | 1,439 | ||||||||||
| Income (loss) from continuing operations before income taxes plus fixed charges | $ | 47,579 | $ | 41,201 | $ | 27,783 | $ | 20,075 | $ | (4,474 | ) | |||||||||
Ratio of earnings to fixed charges (2) | 9.5 | 4.1 | 11.1 | 15.7 | (3.1 | ) | ||||||||||||||
| Coverage deficiency | $ | — | $ | — | $ | — | $ | — | $ | 5,913 | ||||||||||
(1) The portion of rental expense which management believes is representative of the interest component of rent expense (assumed to be 33%).
(2) The ratio of earnings to fixed charges is calculated by dividing (a) income from continuing operations before income taxes plus fixed charges by (b) fixed charges. Fixed charges include interest expense (including amortization of debt issuance costs) and an estimate of the interest within rental expense.