Serena Software (SRNAE) S-4/A Registration of securities issued in business combination transactions (amended)

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

Computation of Ratio of Earnings to Fixed Charges

(in thousands, except for ratios)

	Predecessor
	Fiscal Year Ended January 31,												Fiscal Year Ended January 31,
	2002			2003			2004			2005			2006			2006
													(Historical)			(Pro Forma)
Income before income taxes	$	31,371		$	37,250		$	33,654		$	20,059		$	52,630		$	(33,244	)
Interest		—			—			413			3,300			3,300			51,125
Amortization of debt issuance costs		—			—			42			1,466			1,340			3,611
Portion of rentals deemed to be interest		545			487			536			1,455			1,530			1,530
Income available for fixed charges	$	31,916		$	37,737		$	34,645		$	26,280		$	58,800		$	23,022
Fixed charges:
Interest	$	—		$	—		$	413		$	3,300		$	3,300		$	51,125
Amortization of debt issuance costs		—			—			42			1,466			1,340			3,611
Portion of rentals deemed to be interest		545			487			536			1,455			1,530			1,530
Total fixed charges	$	545		$	487		$	991		$	6,221		$	6,170		$	56,266
Ratio of earnings to fixed charges		58.6	x		77.4	x		35.0	x		4.2	x		9.5	x		—

	Predecessor						Successor			Predecessor/ Successor
	Three Months Ended April 30, 2005			For the Period From February 1, 2006 to March 9, 2006			For the Period From March 10, 2006 to April 30, 2006			Three Months Ended April 30, 2006
	(Historical)			(Historical)			(Historical)			(Pro Forma)
Income (loss) before income taxes	$	12,919		$	(43,051	)	$	(10,842	)	$	(19,026	)
Interest		825			355			7,365			12,706
Amortization of debt issuance costs		335			1,931			282			450
Portion of rentals deemed to be interest		385			161			226			387
Income (loss) available for fixed charges	$	14,464		$	(40,604	)	$	(2,969	)	$	(5,483	)
Fixed charges:
Interest	$	825		$	355		$	7,365		$	12,706
Amortization of debt issuance costs		335			1,931			282			450
Portion of rentals deemed to be interest		385			161			226			387
Total fixed charges	$	1,545		$	2,447		$	7,873		$	13,543
Ratio of earnings to fixed charges		9.4	x		—			—			—

For purposes of computing the ratio of earnings to fixed charges, earnings consist of income before income taxes plus fixed charges. Fixed charges consist of (i) interest expense, (ii) amortization of debt issuance costs, and (iii) that portion of rental expense we estimate to be representative of interest. On apro forma basis giving effect to the acquisition transactions as of February 1, 2005, earnings would not have been sufficient to cover fixed charges by $33.2 million and $19.0 million for the fiscal year ended January 31, 2006 and three months ended April 30, 2006, respectively. On a historical basis, earnings would not have been sufficient to cover fixed charges by $43.1 million and $10.8 million for the Predecessor period from February 1, 2006 through March 9, 2006 and Successor period from March 10, 2006 through April 30, 2006, respectively.