EX-12.1 4 f78261ex12-1.txt STATEMENT OF COMPUTATION OF RATIO OF EARNINGS Exhibit 12.1 Statement of Computation of Ratio of Earnings to Fixed Charges STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In thousands)
Nine Months Year Ended December 31, Ended ----------------------------------------------------------------- September 30, 1996 1997 1998 1999 2000 2001 -------- -------- -------- -------- -------- ------------- Earnings: Income (loss) before income taxes $ 1,593 $ (3,367) $ 6,334 $ 20,151 $ 47,499 $ 35,719 Fixed charges per below 880 2,609 5,420 12,142 29,453 23,041 Less: capitalized interest per below -- -- -- -- (8) (114) Current period amortization of interest capitalized in prior periods -- -- -- -- -- -- -------- -------- -------- -------- -------- -------- Total earnings $ 2,473 $ (758) $ 11,754 $ 32,293 $ 76,944 $ 58,646 ======== ======== ======== ======== ======== ======== Fixed charges and preferred stock dividends: Interest expense $ 834 $ 1,957 $ 3,458 $ 11,531 $ 28,705 $ 22,328 Capitalized interest -- -- -- -- 8 114 Interest portion of rent expense 46 63 197 611 740 599 Preferred dividend requirements -- 589 1,765 -- -- -- -------- -------- -------- -------- -------- -------- Total fixed charges and preferred stock dividends $ 880 $ 2,609 $ 5,420 $ 12,142 $ 29,453 $ 23,041 ======== ======== ======== ======== ======== ======== Ratio of earnings to combined fixed charges and preferred stock dividends 2.8 -- 2.2 2.7 2.6 2.5 ======== ======== ======== ======== ======== ======== Dollar amount of deficiency below 1.0 $ -- $ 3,367 $ -- $ -- $ -- $ --