Exhibit 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
Twelve Months Ended December 31, | Nine Months Ended | |||||||||||||||||||||||
(In thousands) | 2011 | 2012 | 2013 | 2014 | 2015 | September 30, 2016 | ||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pre-tax (loss) from continuing operations | $ | (577 | ) | (2,747 | ) | (1,545 | ) | (145 | ) | (1,538 | ) | (970 | ) | |||||||||||
Fixed charges | 216 | 1,578 | 2,458 | 1,377 | 1,166 | 1,486 | ||||||||||||||||||
Total Earnings as defined | (361 | ) | (1,199 | ) | 913 | 1,232 | (372 | ) | 516 | |||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest whether expensed or capitalized | 148 | 1,169 | 1,943 | 1,274 | 1,109 | 1,461 | ||||||||||||||||||
Amortization of premiums of discounts | 46 | 350 | 481 | 72 | 21 | - | ||||||||||||||||||
Amortization of capitalized expenses related to indebtedness | - | - | - | - | - | - | ||||||||||||||||||
Estimated interest component of rental expense | 22 | 29 | 34 | 31 | 36 | 25 | ||||||||||||||||||
Total Fixed Charges as defined | $ | 216 | $ | 1,548 | $ | 2,458 | $ | 1,377 | $ | 1,166 | $ | 1,486 | ||||||||||||
Coverage Deficiency | $ | 577 | $ | 2,747 | N/A | N/A | $ | 1,538 | $ | N/A | ||||||||||||||
Ratio of Earnings to Fixed Charges | N/A | N/A | 37.14 | 89.47 | N/A | 34.72 |
The interest portion of rent expense was calculated as 5% of rent expense, which is an estimate of the company's incremental borrowing rate.