Mercury Systems (MRCY) 10-K2008 FY Annual report

Filed: 12 Sep 08, 12:00am

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EXHIBIT 12.1

MERCURY COMPUTER SYSTEMS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)


	Year Ended June 30, 2003		Year Ended June 30, 2004		Year Ended June 30, 2005		Year Ended June 30, 2006			Year Ended June 30, 2007			Year Ended June 30, 2008
Income (loss) from continuing operations before income taxes	$	32,870	$	32,233	$	43,123	$	(18,360	)	$	(37,559	)	$	(33,716	)

Fixed charges:
Interest expense		923		1,304		3,448		3,262			3,395			2,517
Portion of rental expense representative of interest factor		310		366		593		766			964			1,459
Amortization of deferred financing fees		—		137		718		840			846			846

Total fixed charges	$	1,233	$	1,807	$	4,759	$	4,868		$	5,205		$	4,822

Income (loss) before income taxes plus fixed charges	$	34,103	$	34,040	$	47,882	$	(13,492	)	$	(32,354	)	$	(28,894	)

Ratio of earnings to fixed charges(A)		27.7		18.8		10.1		(2.8	)		(6.2	)		(6.0	)

Coverage deficiency	$	—	$	—	$	—	$	18,360		$	37,559		$	33,716

(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 (including an estimate of the interest within rental expense) and amortization of deferred financing fees.