EX-12.1 4 d582195dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Kopin Corporation

Ratio of Earnings to Fixed Charges (1)

(dollar amounts in thousands except for ratio)

(excludes discontinued operations for all periods)

 

    

Fiscal Years Ended December

     6 months
ended
June 29,
2013		  
     2008      2009      2010     2011     2012    

Earnings:

               

(Loss) income from continuing operations, before taxes

    $ 454       $ 5,066       ($ 2,936 )    ($ 8,155 )    ($ 19,938 )    ($ 17,807 ) 

Interest portion of rental expense

      82         84         85        96        111        61   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total Earnings:

      536         5,150         (2,851 )      (8,059 )      (19,827 )      (17,746 ) 
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges:

               

Interest expense

      —           —           —          —          —          —     

Estimate of interest within rental expense

      82         84         85        96        111        61   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total Fixed Charges:

    $ 82       $ 84      $ 85     $ 96     $ 111        61   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges (2)

     6.53         61.4         N/A        N/A        N/A        N/A   

 

(1) The ratio of earnings to fixed charges is defined as earnings divided by fixed charges. For purposes of this ratio, earnings is defined as net income (loss) from continuing operations less amounts attributable to the noncontrolling interest plus fixed charges. Fixed charges are defined as the sum of interest expense and the estimate of interest within rental expense.
(2) For the six months ended June 29, 2013 earnings were insufficient to cover fixed charges by approximately $17.8 million. For the years ended 2012, 2011 and 2010 earnings were insufficient to cover fixed charges by approximately $19.9 million, $8.2 million and $2.9 million respectively.