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Previous: NATURAL MICROSYSTEMS CORP, S-3, EX-5.01, 2000-08-18 |
Next: NATURAL MICROSYSTEMS CORP, S-3, EX-23.01, 2000-08-18 |
<PAGE>
EXHIBIT 12.01
NATURAL MICROSYSTEMS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
(Amounts in thousands of dollars)
<TABLE>
<CAPTION>
1995 1996 1997 1998
---- ---- ---- ----
<S> <C> <C> <C> <C>
Pre-tax income (loss) from continuing operations $ 4,200 $ 3,065 $ 7,319 $ (10,057)
========= ========= ========= =========
Fixed charges:
Interest expense 31 88 34 119
Amortization of preferred stock - - - -
Building rentals - 33% 105 188 396 429
Capital leases 23 - 38 -
--------- --------- --------- ---------
Total fixed charges $ 159 $ 276 $ 468 $ 548
========= ========= ========= =========
Pre-tax income (loss) from continuing operations
plus fixed charges $ 4,359 $ 3,341 $ 7,787 $ (9,509)
========= ========= ========= =========
Ratio of earnings to fixed charges 27.5 12.1 16.6 Note A
========= ========= ========= =========
Preferred stock dividends - - - -
--------- --------- --------- ---------
Total fixed charges and preferred dividends $ 159 $ 276 $ 468 $ 548
========= ========= ========= =========
Ratio of earnings to fixed charges and preferred
dividends 27.5 12.1 16.6 Note A
========= ========= ========= =========
</TABLE>
<TABLE>
<CAPTION>
1999 30-JUN-99 30-JUN-00
---- --------- ---------
<S> <C> <C> <C>
Pre-tax income (loss) from continuing operations $ (16,634) $ (11,093) $ 526
========= ========= =========
Fixed charges:
Interest expense 239 85 59
Amortization of preferred stock - - -
Building rentals - 33% 594 428 390
Capital leases - - -
--------- --------- ---------
Total fixed charges $ 833 $ 513 $ 449
========= ========= =========
Pre-tax income (loss) from continuing operations
plus fixed charges $ (15,801) $ (10,580) $ 975
========= ========= =========
Ratio of earnings to fixed charges Note A Note A 2.2(Note B)
========= ========= =========
Preferred stock dividends - - -
--------- --------- ---------
Total fixed charges and preferred dividends $ 833 $ 513 $ 449
========= ========= =========
Ratio of earnings to fixed charges and preferred
dividends Note A Note A 2.2(Note B)
========= ========= =========
</TABLE>
NOTES:
A: Due to Natural MicroSystems Corporation's losses in these periods, the
ratio coverage was less than 1:1. Natural MicroSystems would have needed to
generate additional earnings of $10,057, $16,634 and $11,093 for the years
ending December 31, 1998 and 1999 and six months ending June 30, 1999,
respectively, to achieve a coverage ratio of 1:1.
B: Included in earnings for the six-month period ended June 30, 2000 was a
nonrecurring gain of $1,898 before income taxes relating to the sale of
NMS's investments in two privately held companies. If such sales had not
occurred, the total additional earnings needed to achieve a 1:1 coverage
ratio of earnings to fixed charges and earnings to fixed charges and
preferred dividends would have been $1,372.
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