EXHIBIT 12.1
Computation of Ratio of Earnings
to Fixed Charges
(Unaudited)
(in thousands, except ratios)
<Table>
<Caption>
For the Nine months
For the year ended December 31 Ended September 30,
------------------------------------------------------------ ---------------------
1996 1997 1998 1999 2000 2000 2001
--------- --------- --------- --------- --------- --------- ---------
Net income (loss) before taxes $ 6,099 $ (10,354) $ (49,361) $ (3,126) $ 67,260 $ 44,802 $ 98,342
Interest expense 2,774 5,635 8,323 9,207 9,731 8,454 4,483
--------- --------- --------- --------- --------- --------- ---------
Earnings 8,873 (4,719) (41,038) 6,081 76,991 53,256 102,825
========= ========= ========= ========= ========= ========= =========
Preferred dividends -- -- -- -- -- -- 397
Ratio of pretax income to net income -- -- -- -- -- -- 1.574
--------- --------- --------- --------- --------- --------- ---------
-- -- -- -- -- -- 625
Interest Expense 2,774 5,635 8,323 9,207 9,731 8,454 4,483
Preferred dividend factor -- -- -- -- -- -- 625
--------- --------- --------- --------- --------- --------- ---------
Fixed Charges $ 2,774 $ 5,635 $ 8,323 $ 9,207 $ 9,731 $ 8,454 $ 5,108
========= ========= ========= ========= ========= ========= =========
Ratio of earnings to fixed charges 3.20 (1) (1) (1) 7.91 6.30 20.13
========= ========= ========= ========= ========= ========= =========
</Table>
(1) Earnings were insufficient to cover fixed charges by $10,354,000,
$49,361,000 and $3,126,000 for the years ended December 31, 1997, 1998
and 1999, respectively.