Exhibit 12.1
Ratio of Earnings to Fixed Charges
(In thousands)
Year Ended December 31, | |||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
Income before income taxes | $ | 9,534 | $ | 8,450 | $ | 5,296 | $ | 473 | $ | 410 | |||||||||
Plus fixed charges: | |||||||||||||||||||
Interest expense | 1,478 | 1,060 | 515 | 165 | 115 | ||||||||||||||
Estimate of the interest within rental expense | - | - | - | - | - | ||||||||||||||
Total fixed charges | 1,478 | 1,060 | 515 | 165 | 115 | ||||||||||||||
Fixed charges | 1,478 | 1,060 | 515 | 165 | 115 | ||||||||||||||
Earnings to fixed charges | $ | 11,012 | $ | 9,510 | $ | 5,811 | $ | 638 | $ | 525 | |||||||||
Ratio of earnings to fixed charges | 7.45 | x | 8.97 | x | 11.28 | x | 3.87 | x | 4.57 | x |