Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges for the periods indicated:
Three Months ended March 31, 2016 | Fiscal Years | |||||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before income taxes | $ | (9,719 | ) | $ | (27,176 | ) | $ | (16,178 | ) | $ | (11,444 | ) | $ | (7,484 | ) | $ | (5,425 | ) | ||||||
Fixed charges to add to earnings: | ||||||||||||||||||||||||
Interest expense | 244 | 231 | 192 | 452 | 702 | 643 | ||||||||||||||||||
Amortization of financing costs | 15 | 61 | 113 | 114 | 100 | 171 | ||||||||||||||||||
Rent interest factor(1) | 122 | 505 | 443 | 218 | 197 | 169 | ||||||||||||||||||
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Total fixed charges | 381 | 797 | 748 | 784 | 999 | 983 | ||||||||||||||||||
Earnings before income taxes and fixed charges | $ | (9,338 | ) | $ | (26,379 | ) | $ | (15,430 | ) | $ | (10,660 | ) | $ | (6,485 | ) | $ | (4,442 | ) | ||||||
Ratio of earnings to fixed charges | N/A | N/A | N/A | N/A | N/A | N/A |
Ratio of earnings to fixed charges is not applicable as the Company is deficient in earnings by $9,338, $26,379, $15,430, $10,660, $6,485, and $4,442 for the three months ended March 31, 2016 and fiscal years ending 2015, 2014, 2013, 2012, and 2011, respectively.
(1) | Approximately one-third of rental expense is deemed representative of the interest factor. |