Exhibit 12.1
Calculation of Ratio of Earnings to Fixed Charges
| Year-Ended December 31, | Nine Months Ended September 30, 2017 |
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| (in 000’s) |
2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||||||
| Fixed charges: |
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| Interest expense |
$ | 153 | $ | 237 | $ | 37 | $ | 165 | $ | 332 | $ | 262 | ||||||||||||
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| Total fixed charges |
$ | 153 | $ | 237 | $ | 37 | $ | 165 | $ | 332 | $ | 262 | ||||||||||||
| Earnings available for fixed charges: |
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| Pre-tax income (loss) |
$ | (5,405 | ) | $ | 11,535 | $ | 23,824 | $ | (38,733 | ) | $ | 5,556 | $ | (30,810 | ) | |||||||||
| Add: fixed charges |
153 | 237 | 37 | 165 | 332 | 262 | ||||||||||||||||||
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| Total earnings available for fixed charges |
$ | (5,252 | ) | $ | 11,772 | $ | 23,861 | $ | (38,568 | ) | $ | 5,888 | $ | (30,548 | ) | |||||||||
| Ratio of earnings to fixed charges |
* | 49.67 | 644.89 | * | 17.73 | * | ||||||||||||||||||
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| * | Earnings were insufficient to cover fixed charges by $5.4 million, $38.7 million, and $30.8 million for the years ended December 31, 2012 and 2015, and for the nine months ended September 30, 2017, respectively. |
In calculating the ratio of earnings to fixed charges, “earnings” means the sum of income before income taxes and fixed charges, and “fixed charges” means interest expensed including, amortized premiums and discounts relating to indebtedness. We had no capitalized interest and no interest portion included in rental expense during the periods presented.