EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

Calculation of Ratio of Earnings to Fixed Charges

 

     Year Ended December 31,

    
     2000

   2001

   2002

   2003

   2004

   Nine Months Ended
September 30,
2005


     (In thousands, except ratio of earnings to fixed charges)

Income from continuing operations before income taxes

   $ 5,197    $ 4,837    $ 4,132    $ 17,288    $ 43,919    $ 48,689

Fixed charges(1)

                                         

Interest expense

     34      26      102      32      1,661      4,987

Amortization of debt issuance cost

     —        —        —        —        253      566

Interest included in rental expense

     230      264      365      350      425      473

Total fixed charges

   $ 264    $ 290    $ 467    $ 382    $ 2,339    $ 6,026

Earnings(2)

   $ 5,461    $ 5,127    $ 4,599    $ 17,670    $ 46,258    $ 54,715

Ratio of earnings to fixed charges

     20.7      17.7      9.8      46.3      19.8      9.1

(1) “Fixed charges” consist of interest expense on indebtedness, amortization of debt issuance costs and the estimated portion of rental expense deemed a reasonable approximation of this interest factor.

 

(2) “Earnings” consist of income from continuing operations before income taxes plus fixed charges.