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Exhibit 12.1
MITCHAM INDUSTRIES, INC.
RATIOOF EARNINGSTO FIXED CHARGES
Year Ended January 31, | ||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Earnings | ||||||||||||||||||||
(Loss) Income before income taxes | $ | (27,759 | ) | $ | (10,186 | ) | $ | 6,026 | $ | 13,524 | $ | 34,330 | ||||||||
Fixed charges (as outlined below) | 932 | 1,142 | 544 | 783 | 960 | |||||||||||||||
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Total earnings, as defined | $ | (26,827 | ) | $ | (9,044 | ) | $ | 6,570 | $ | 14,307 | $ | 35,290 | ||||||||
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Fixed Charges | ||||||||||||||||||||
Interest | $ | 739 | $ | 902 | $ | 314 | $ | 533 | $ | 740 | ||||||||||
Estimate of interest within rental expense | $ | 193 | $ | 240 | $ | 230 | $ | 250 | $ | 220 | ||||||||||
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Total fixed charges | $ | 932 | $ | 1,142 | $ | 544 | $ | 783 | $ | 960 | ||||||||||
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Ratio of (losses) earnings to fixed charges | * | * | 12.08 | 18.27 | 36.76 |
• | Earnings for the years ended January 31, 2016 and January 31, 2015 were insufficient to cover fixed charges by $27,759 and $10,186, respectively. |