EX-12.1 2 axti-20151231ex1216c0d6c.htm EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

|  | Fiscal Year Ended December 31, |
|  | 2008 |  | 2009 |  | 2010 |  | 2011 |  | 2012 |  | 2013 |  | 2014 |  | 2015 |
|  |  | (dollars in thousands) |  |  |  |
Ratio of earnings to fixed charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings available for fixed charges |  | $ | (38) |  | $ | (1,596) |  | $ | 20,184 |  | $ | 27,473 |  | $ | 5,965 |  | $ | (7,662) |  | $ | (2,854) |  | $ | 0 |
Add: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed charges |  |  | 231 |  |  | 64 |  |  | 74 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |
Total income/(loss) for computation of ratio |  | $ | 193 |  | $ | (1,532) |  | $ | 20,258 |  | $ | 27,473 |  | $ | 5,966 |  | $ | (7,661) |  | $ | (2,854) |  | $ | 0 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total interest expense |  | $ | 193 |  | $ | 47 |  | $ | 57 |  | $ | 0 |  | $ | 1 |  | $ | 1 |  | $ | 0 |  | $ | 0 |
Interest factor in rents a |  |  | 38 |  |  | 17 |  |  | 17 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total fixed charges |  | $ | 231 |  | $ | 64 |  | $ | 74 |  | $ | 0 |  | $ | 1 |  | $ | 1 |  | $ | 0 |  | $ | 0 |
Ratio of earnings to fixed charges b |  |  | 0.84 |  |  | (23.94) |  |  | 273.76 |  |  | NM |  |  | 5,966.00 |  |  | (7,661.00) |  |  | NM |  |  | NM |

| (a) |  | Interest component of rental expense is estimated based on interest on tenant improvement loan at 4%, which is considered a reasonable approximation of the interest factor. In 2010, the full amount of the tenant improvement was paid off.

| (b) |  | In 2009, earnings were weak from the global financial crisis. Between 2011 and 2015, there were no fixed charge .

NM = ratio not meaningful