EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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NINE MONTHS ENDED YEAR ENDED
SEPTEMBER 30, DECEMBER 31,
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1997 1998 1993 1994 1995 1996 1997
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(In thousands)
Ratio of earnings to fixed charges:
Earnings (deficiency):
Income (loss) from continuing
operations before taxes $53,173 $ (4,209) $18,812 $28,343 $38,081 $59,828 $60,278
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Fixed Charges:
Interest charges 199 1,666 887 3,172 3,188 2,774 293
Interest factor of operating rents 1,524 2,240 738 877 1,240 1,871 2,142
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Total fixed charges 1,723 3,906 1,625 4,049 4,428 4,645 2,435
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Earnings (deficiency), as adjusted $54,896 $ (303) $20,437 $32,392 $42,509 $64,473 $62,713
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Ratio of earnings to fixed charges 31.9x N/A (1) 12.6x 8.0x 9.6x 13.9x 25.8x
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(1) For the nine months ended September 30, 1998, there was a deficiency of
earnings available to cover the fixed charges amounting to $4.2 million.
Excluding the charge of $68.2 million for purchased in-process technology
associated with the acquisition of Voicetek Corporation, the ratio of
earnings to fixed charges for the nine months ended September 30, 1998 would
have been 17.4x.