Exhibit 12.1
STATEMENT OF CALCULATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES AND PREFERRED DIVIDENDS
For the purpose of calculating the ratio of earnings to fixed charges, “earnings” represent income from continuing operations before income taxes, plus income distributed to us by subsidiaries we account for as equity investments, plus fixed charges. “Fixed charges” consist of (a) interest, expensed and capitalized; (b) amortized premiums, discounts and capitalized expenses related to indebtedness; (c) an estimate of the interest within rental expenses; and (d) preference security dividend requirements of consolidated subsidiaries.
Because during the relevant periods STAAR has not had any outstanding class or series of preferred stock that paid dividends in a fixed amount or in preference to any other class of securities, the ratio of earnings to combined fixed earnings and preferred dividends is the same as the ratio of earnings to fixed charges, which was computed as follows:
| Fiscal Year Ended | Three Months Ended | |||||||||||||||||||||||
| December 28, 2012 | January 3, 2014 | January 2, 2015 | January 1, 2016 | December 30, 2016 | March 31, 2017 | |||||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||
| Interest Expense | 291 | 170 | 154 | 128 | 115 | 29 | ||||||||||||||||||
| Total Fixed Charges | 291 | 170 | 154 | 128 | 115 | 29 | ||||||||||||||||||
| Earnings (Loss) Available for Fixed Charges: | ||||||||||||||||||||||||
| Pretax Income (Loss) | (519 | ) | 1,114 | (8,645 | ) | (5,605 | ) | (12,444 | ) | (2,062 | ) | |||||||||||||
| Add: Fixed Charges | 291 | 170 | 154 | 128 | 115 | 29 | ||||||||||||||||||
| Total Earnings (Loss) available for Fixed Charges | (228 | ) | 1,284 | (8,491 | ) | (5,477 | ) | (12,329 | ) | (2,033 | ) | |||||||||||||
| Ratio of Earnings to Fixed Charges | — | 7.55 | — | — | — | — | ||||||||||||||||||
| Earnings inadequate to cover Fixed Charges by: | 519 | — | 8,645 | 5,605 | 12,444 | 2,062 | ||||||||||||||||||
