Exhibit 12.1
CalAmp Corp.
Ratio of Earnings to Fixed Charges (1)
(in thousands of US dollars except for ratios)
Nine Months | |||||||||||||||||
Ended | Year Ended | ||||||||||||||||
November | February | February | February | February | March | ||||||||||||
24, | 25, | 26, | 27, | 28, | 1, | ||||||||||||
2012 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||
Earnings (losses): | |||||||||||||||||
Income (loss) from continuing operations | |||||||||||||||||
before income taxes | 12,041 | 5,279 | (3,455 | ) | (12,225 | ) | (45,895 | ) | (103,290 | ) | |||||||
Add | |||||||||||||||||
Fixed charges | 745 | 1,783 | 2,084 | 1,594 | 1,861 | 2,970 | |||||||||||
Earnings (loss) as defined | 12,786 | 7,062 | (1,371 | ) | (10,631 | ) | (44,034 | ) | (100,320 | ) | |||||||
Fixed charges: | |||||||||||||||||
Interest expense and amortization | |||||||||||||||||
of debt issue costs and discount | 316 | 1,261 | 1,445 | 940 | 1,091 | 1,903 | |||||||||||
Estimated interest component | |||||||||||||||||
of rent | 429 | 522 | 639 | 654 | 770 | 1,067 | |||||||||||
Total fixed charges | 745 | 1,783 | 2,084 | 1,594 | 1,861 | 2,970 | |||||||||||
Deficiency of earnings available to cover fixed | |||||||||||||||||
charges (2) | - | - | 3,455 | 12,225 | 45,895 | 103,290 | |||||||||||
Ratio of earnings to fixed charges | 17.2 | 4.0 | - | - | - | - |
(1) | We compure the ratio of earnings to fixed charges by dividing (i) earnings, which consists of income from continuing operations before income taxes plus fixed charges, by (ii) fixed charges, which consist of interest expense and estimated interest component of rent. |
(2) | Earnings were insufficient to cover fixed charges by $3.5 million, $12.2 million, $45.9 million and $103.3 million in 2011, 2010, 2009 and 2008, respectively. |