EXHIBIT 12.1: STATEMENT OF COMPUTATION OF RATIOS
Published on July 2, 2009
Exhibit
12.1
EMCORE
CORPORATION AND SUBSIDIARIES
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Ratio
of Earnings to Fixed Charges
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||||||||||||||||||||
(In
thousands, except ratio)
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||||||||||||||||||||
Year
Ended September 30,
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2008
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2007
|
2006
|
2005
|
2004
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Fixed
charges, as defined by the Securities and Exchange
Commission:
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Interest
on long-term debt
|
$
|
1,580
|
$
|
4,985
|
$
|
5,352
|
$
|
4,844
|
$
|
6,156
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Imputed
interest in rents
|
|
533
|
|
533
|
|
700
|
|
633
|
|
767
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||||||||||
Total
Fixed Charges*
|
$
|
2,113
|
$
|
5,518
|
$
|
6,052
|
$
|
5,477
|
$
|
6,923
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||||||||||
Earnings,
as defined by the Securities and Exchange Commission:
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Earnings
from continuing operations before income taxes
|
$
|
(80,860
|
)
|
$
|
(58,722
|
)
|
$
|
46,891
|
$
|
(24,685
|
)
|
$
|
(28,376
|
)
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||||||
Fixed
charges as above
|
2,113
|
5,518
|
6,052
|
5,477
|
6,923
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Earnings
Available for Fixed Charges
|
$
|
(78,747
|
)
|
$
|
(53,204
|
)
|
$
|
52,943
|
$
|
(19,208
|
)
|
$
|
(21,453
|
)
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Ratio
of Earnings to Fixed Charges
|
N/M
|
**
|
N/M
|
**
|
10
|
N/M
|
**
|
N/M
|
**
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*Fixed
Charges consist of interest expense and our estimate of an appropriate
portion of rentals representative of the interest factor. The estimate of
interest within rental expense is estimated to be one-third of rental
expense.
**The
ratio of earnings to fixed charges for the six-months ended March 31, 2009
and for the years ended September 30, 2008, 2007, 2005 and 2004 are not
meaningful since earnings available for fixed charges is negative for
those periods. The shortfall in the earnings available for
fixed charges to achieve a ratio of earnings to fixed charges of 1.00
amounted to $77.1 million for the six months ended March 31, 2009 and
$80.9 million, $58.7 million, $24.7 million, and 28.4 million for the
years ended September 30, 2008, 2007, 2005 and 2004
respectively.
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