Mercury Systems (MRCY) 10-Q 2006 Q3 Quarterly report

EXHIBIT 12.1

MERCURY COMPUTER SYSTEMS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

	Year Ended June 30, 2001		Year Ended June 30, 2002		Year Ended June 30, 2003		Year Ended June 30, 2004		Year Ended June 30, 2005		Nine Months Ended March 31, 2006
(Loss) income before income taxes	$	45,124	$	21,983	$	32,870	$	32,233	$	43,123	$	(17,930	)
Fixed charges:
Interest expense		1,065		987		923		1,441		4,166		3,096
Rentals:
Buildings, office equipment and other		169		203		310		366		593		598
Total fixed charges	$	1,234	$	1,190	$	1,233	$	1,807	$	4,759	$	3,694
(Loss) income before income taxes plus fixed charges	$	46,358	$	23,173	$	34,103	$	34,040	$	47,882	$	(14,236	)
Ratio of earnings to fixed charges (A)		37.6		19.5		27.7		18.8		10.1		(3.9	)
Coverage deficiency	$	—	$	—	$	—	$	—	$	—	$	21,624

(A) The ratio of earnings to fixed charges is calculated by dividing (a) earnings before income taxes and fixed charges by (b) fixed charges. Fixed charges include interest expense under operating leases the Company deems a reasonable approximation of the interest factor.