EX-12.1 2 f70448ex12-1.txt STATEMENT REGARDING COMPUTATION OF RATIO EARNINGS 1 EXHIBIT 12.1 STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In thousands)
YEAR ENDED DECEMBER 31, 1996 1997 1998 1999 2000 ------ ------- ------- ------- ------- Earnings: Income (loss) before income taxes $1,593 $(3,367) $ 6,334 $20,151 $47,499 Fixed Charges per below 880 2,609 5,420 12,142 29,453 Less: Capitalized interest per below -- -- -- -- 8 Current period amortization of interest capitalized in prior periods -- -- -- -- -- ------ ------- ------- ------- ------- Total Earnings $2,473 $ (758) $11,754 $32,293 $76,944 ====== ======= ======= ======= ======= Fixed Charges and Preferred Stock Dividends: Interest expense $ 834 $ 1,957 $ 3,458 $11,531 $28,705 Capitalized interest -- -- -- -- 8 Interest portion of rent expense 46 63 197 611 740 Preferred dividend requirements -- 589 1,765 -- -- ------ ------- ------- ------- ------- Total Fixed Charges and Preferred Stock $ 880 $ 2,609 $ 5,420 $12,142 $29,453 Dividends ====== ======= ======= ======= ======= Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends 3.3 -- 2.2 2.7 2.6 ====== ======= ======= ======= ======= Dollar Amount of Deficiency Below 1.0 N/A $ 3,367 N/A N/A N/A ====== ======= ======= ======= =======