Mercury Systems (MRCY) 10-Q 2007 Q2 Quarterly report

EXHIBIT 12.1

MERCURY COMPUTER SYSTEMS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

	Year Ended June 30, 2002		Year Ended June 30, 2003		Year Ended June 30, 2004		Year Ended June 30, 2005		Year Ended June 30, 2006			Six Months Ended December 31, 2006
Income (loss) before income taxes	$	21,983	$	32,870	$	32,233	$	43,123	$	(17,110	)	$	(17,727	)
Fixed charges:
Interest expense		987		923		1,441		4,166		4,102			2,548
Rentals:
Buildings, office equipment and other		203		310		366		593		805			425
Total fixed charges	$	1,190	$	1,233	$	1,807	$	4,759	$	4,907		$	2,973
Income before income taxes plus fixed charges	$	23,173	$	34,103	$	34,040	$	47,882	$	(12,203	)	$	(14,754	)
Ratio of earnings to fixed charges (A)		19.5		27.7		18.8		10.1		(2.5	)		(5.0	)
Coverage deficiency	$	—	$	—	$	—	$	—	$	17,110		$	17,727

(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.