Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES:
Nine Months Ended December 31, | ||||||||||||||||||||
Fiscal Year Ended December 31, | ||||||||||||||||||||
(In thousands, except per share data) | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Income (loss) before taxes | $ | 13,423 | $ | 11,138 | $ | 23,014 | $ | 11,271 | $ | (1,597 | ) | |||||||||
Add: Fixed charges | 687 | 734 | 659 | 603 | 160 | |||||||||||||||
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Total earnings | $ | 14,110 | $ | 11,872 | $ | 23,673 | $ | 11,874 | $ | (1,437 | ) | |||||||||
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Fixed charges: | ||||||||||||||||||||
Interest Expense | $ | 32 | $ | 50 | $ | 50 | $ | 57 | $ | 28 | ||||||||||
Estimate of Interest in Rental Expense(1) | 655 | 684 | 609 | 546 | 132 | |||||||||||||||
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Total fixed charges | $ | 687 | $ | 734 | $ | 659 | $ | 603 | $ | 160 | ||||||||||
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Ratio of earnings to fixed charges | 20.5 | 16.2 | 35.9 | 19.7 | (9.0 | ) | ||||||||||||||
* | * |
(1) | We estimate that the interest component of rent expense approximates one-fourth of our total rent expense. |
** | Earnings for the nine months ended December 31, 2011 were insufficient to cover fixed charges by $1,597,000. |