COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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| Fiscal Year Ended December 31, |
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| 2008 |
| 2009 |
| 2010 |
| 2011 |
| 2012 |
| 2013 |
| 2014 |
| 2015 |
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| (dollars in thousands) |
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Ratio of earnings to fixed charges |
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Earnings: |
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Earnings available for fixed charges |
| $ | (38) |
| $ | (1,596) |
| $ | 20,184 |
| $ | 27,473 |
| $ | 5,965 |
| $ | (7,662) |
| $ | (2,854) |
| $ | 0 |
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Add: |
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Fixed charges |
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| 231 |
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| 64 |
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| 74 |
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| — |
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| 1 |
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| 1 |
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| — |
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| — |
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Total income/(loss) for computation of ratio |
| $ | 193 |
| $ | (1,532) |
| $ | 20,258 |
| $ | 27,473 |
| $ | 5,966 |
| $ | (7,661) |
| $ | (2,854) |
| $ | 0 |
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Fixed charges: |
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Total interest expense |
| $ | 193 |
| $ | 47 |
| $ | 57 |
| $ | 0 |
| $ | 1 |
| $ | 1 |
| $ | 0 |
| $ | 0 |
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Interest factor in rents a |
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| 38 |
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| 17 |
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| 17 |
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| — |
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| — |
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| — |
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| — |
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| — |
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Total fixed charges |
| $ | 231 |
| $ | 64 |
| $ | 74 |
| $ | 0 |
| $ | 1 |
| $ | 1 |
| $ | 0 |
| $ | 0 |
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Ratio of earnings to fixed charges b |
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| 0.84 |
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| (23.94) |
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| 273.76 |
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| NM |
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| 5,966.00 |
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| (7,661.00) |
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| NM |
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| NM |
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(a) | Interest component of rental expense is estimated based on interest on tenant improvement loan at 4%, which is considered a reasonable approximation of the interest factor. In 2010, the full amount of the tenant improvement was paid off. |
(b) | In 2009, earnings were weak from the global financial crisis. Between 2011 and 2015, there were no fixed charge . |
NM = ratio not meaningful