Exhibit 12.1



CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND COMBINED FIXED

CHARGES AND PREFERRED DIVIDENDS



(In thousands, except ratios)



|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|---------------------------------------------------------- |  | ----------------------- | ------ | - | ---- | - | ------ |  | ---- | ------- |  | ---- | ------ | - |  | - | ------ | -
|                                                           |  | Year Ended December 31, |       
|                                                           |  | 2003                    |        |   | 2002 |   | 2001   |  | 2000 |         |  | 1999 |       
|EARNINGS AVAILABLE FOR FIXED CHARGES:                      |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|Net income (loss)                                          |  | $                       | 36,612 |   |      | $ | 31,579 |  | $    | 66,226  |  | $    | 38,566 |   |  | $ | (1,337 | )
|Less: Capitalized interest                                 |  |                         | (353   | ) |      |   |       |  |      |        |  |      | (17    | ) |  |   | (966   | )
|Add: Fixed charges                                         |  |                         | 1,544  |   |      |   | 1,111  |  |      | 576     |  |      | 909    |   |  |   | 3,870  |  
|Income tax expense                                         |  |                         | 24,562 |   |      |   | 17,763 |  |      | 37,252  |  |      | 20,858 |   |  |   |       |  
|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|EARNINGS AVAILABLE                                         |  | $                       | 62,365 |   |      | $ | 50,453 |  | $    | 104,054 |  | $    | 60,316 |   |  | $ | 1,567  |  
|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|FIXED CHARGES:                                             |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|Interest expense                                           |  | $                       | 784    |   |      | $ | 762    |  | $    | 381     |  | $    | 748    |   |  | $ | 2,805  |  
|Capitalized interest                                       |  |                         | 353    |   |      |   |       |  |      |        |  |      | 17     |   |  |   | 966    |  
|Rental expense representative of interest factor           |  |                         | 407    |   |      |   | 349    |  |      | 195     |  |      | 144    |   |  |   | 99     |  
|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|TOTAL FIXED CHARGES                                        |  | $                       | 1,544  |   |      | $ | 1,111  |  | $    | 576     |  | $    | 909    |   |  | $ | 3,870  |  
|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|Preferred dividends on a pre-tax basis                     |  |                         |       |   |      |   |       |  |      |        |  |      |       |   |  |   | 7,911  |  
|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|TOTAL FIXED CHARGES AND PREFERRED DIVIDENDS                |  | $                       | 1,544  |   |      | $ | 1,111  |  | $    | 576     |  | $    | 909    |   |  | $ | 11,781 |  
|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|RATIO OF EARNINGS TO FIXED CHARGES                         |  |                         | 40.4   |   |      |   | 45.4   |  |      | 180.6   |  |      | 66.4   |   |  |   | (1     | )
|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  
|RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS |  |                         | 40.4   |   |      |   | 45.4   |  |      | 180.6   |  |      | 66.4   |   |  |   | (2     | )
|                                                           |  |                         |        |   |      |   |        |  |      |         |  |      |        |   |  |   |        |  

---

|(1) | Earnings were inadequate to cover fixed charges by $2.3 million for the year ended December 31, 1999.
|--- | -----------------------------------------------------------------------------------------------------

|(2) | Earnings were inadequate to cover fixed charges and preferred dividends by $10.2 million for the year ended December 31, 1999.
|--- | ------------------------------------------------------------------------------------------------------------------------------