Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

	Year Ended December 31,
	2003	2002		2001		2000		1999		1998
Earnings:
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees	33,007	(1,036	)	(43,587	)	(19,236	)	(3,449	)	(615	)
Fixed charges:
Interest expense and amortization of debt issuance costs	345	—		—		—		28		14
One-third of rental expense	498	260		233		214		68		52
Total fixed charges	843	260		233		214		96		66
Ratio of Earnings to fixed charges	39.15	—	(a)	—	(a)	—	(a)	—	(a)	—	(a)

(a) Earnings during each of the five years ended December 31, 2002 were inadequate to cover fixed charges. The coverage deficiency was approximately $681,000, $3,545,000, $19,450,000, $43,820,000 and $1,296,000 for each of the five years ended December 31, 2002, respectively.