Exhibit 12.1



Calculation of Ratios of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Dividends

(In thousands, except ratios)



|                                                           |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|---------------------------------------------------------- |  | ------------------------- | ------ | ----------------------- | ---- | - | ------ |  | - | ------ | - | ---- | - | ------ |  | - | ------- |  | - | ------ | - |  | - | ------ | ---
|                                                           |  | Six Months Ended June 30, |        | Year Ended December 31, |     
|                                                           |  | 2004                      |        |                         | 2003 |   | 2003   |  |   | 2002   |   | 2001 |   | 2000   |  |   | 1999    | 
|EARNINGS AVAILABLE FOR FIXED CHARGES:                      |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|Net income (loss)                                          |  | $                         | 31,342 |                         |      | $ | 25,326 |  | $ | 36,612 |   |      | $ | 31,579 |  | $ | 66,226  |  | $ | 38,566 |   |  | $ | (1,337 | )  
|Less: Capitalized interest                                 |  |                           | (1,067 | )                       |      |   |       |  |   | (353   | ) |      |   |       |  |   |        |  |   | (17    | ) |  |   | (966   | )  
|Add: Fixed charges                                         |  |                           | 1,784  |                         |      |   | 501    |  |   | 1,544  |   |      |   | 1,111  |  |   | 576     |  |   | 909    |   |  |   | 3,870  |    
|Income tax expense                                         |  |                           | 17,630 |                         |      |   | 18,214 |  |   | 24,562 |   |      |   | 17,763 |  |   | 37,252  |  |   | 20,858 |   |  |   |       |    
|                                                           |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|EARNINGS AVAILABLE                                         |  | $                         | 49,689 |                         |      | $ | 44,041 |  | $ | 62,365 |   |      | $ | 50,453 |  | $ | 104,054 |  | $ | 60,316 |   |  | $ | 1,567  |    
|                                                           |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|FIXED CHARGES:                                             |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|Interest expense                                           |  | $                         | 515    |                         |      | $ | 302    |  | $ | 784    |   |      | $ | 762    |  | $ | 381     |  | $ | 748    |   |  | $ | 2,805  |    
|Capitalized interest                                       |  |                           | 1,067  |                         |      |   |       |  |   | 353    |   |      |   |       |  |   |        |  |   | 17     |   |  |   | 966    |    
|Rental expense representative of interest factor           |  |                           | 202    |                         |      |   | 199    |  |   | 407    |   |      |   | 349    |  |   | 195     |  |   | 144    |   |  |   | 99     |    
|                                                           |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|TOTAL FIXED CHARGES                                        |  | $                         | 1,784  |                         |      | $ | 501    |  | $ | 1,544  |   |      | $ | 1,111  |  | $ | 576     |  | $ | 909    |   |  | $ | 3,870  |    
|                                                           |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|Preferred dividends on a pre-tax basis                     |  |                           |       |                         |      |   |       |  |   |       |   |      |   |       |  |   |        |  |   |       |   |  |   | 7,911  |    
|                                                           |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|TOTAL FIXED CHARGES AND PREFERRED DIVIDENDS                |  | $                         | 1,784  |                         |      | $ | 501    |  | $ | 1,544  |   |      | $ | 1,111  |  | $ | 576     |  | $ | 909    |   |  | $ | 11,781 |    
|                                                           |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|RATIO OF EARNINGS TO FIXED CHARGES                         |  |                           | 27.9   |                         |      |   | 87.9   |  |   | 40.4   |   |      |   | 45.4   |  |   | 180.6   |  |   | 66.4   |   |  |   |        | (1)
|                                                           |  |                           |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |    
|RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS |  |                           | 27.9   |                         |      |   | 87.9   |  |   | 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.
|--- | ------------------------------------------------------------------------------------------------------------------------------