Exhibit 12.1



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

(In thousands, except ratios)



|                                                           |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|---------------------------------------------------------- |  | ---------------------------- | ------ | ----------------------- | ---- | - | ------ |  | - | ------ | - | ---- | - | ------ |  | - | ------- |  | - | ------ | - |  | - | ------ | -
|                                                           |  | Three Months Ended March 31, |        | Year Ended December 31, |     
|                                                           |  | 2004                         |        |                         | 2003 |   | 2003   |  |   | 2002   |   | 2001 |   | 2000   |  |   | 1999    | 
|EARNINGS AVAILABLE FOR FIXED CHARGES:                      |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|Net income (loss)                                          |  | $                            | 13,737 |                         |      | $ | 15,298 |  | $ | 36,612 |   |      | $ | 31,579 |  | $ | 66,226  |  | $ | 38,566 |   |  | $ | (1,337 | )
|Less: Capitalized interest                                 |  |                              | (426   | )                       |      |   |       |  |   | (353   | ) |      |   |       |  |   |        |  |   | (17    | ) |  |   | (966   | )
|Add: Fixed charges                                         |  |                              | 735    |                         |      |   | 249    |  |   | 1,544  |   |      |   | 1,111  |  |   | 576     |  |   | 909    |   |  |   | 3,870  |  
|Income tax expense                                         |  |                              | 7,727  |                         |      |   | 8,605  |  |   | 24,562 |   |      |   | 17,763 |  |   | 37,252  |  |   | 20,858 |   |  |   |       |  
|                                                           |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|EARNINGS AVAILABLE                                         |  | $                            | 21,773 |                         |      | $ | 24,152 |  | $ | 62,365 |   |      | $ | 50,453 |  | $ | 104,054 |  | $ | 60,316 |   |  | $ | 1,567  |  
|                                                           |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|                                                           |  |                              |        |                         |      |   |       
|FIXED CHARGES:                                             |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|Interest expense                                           |  | $                            | 211    |                         |      | $ | 149    |  | $ | 784    |   |      | $ | 762    |  | $ | 381     |  | $ | 748    |   |  | $ | 2,805  |  
|Capitalized interest                                       |  |                              | 426    |                         |      |   |       |  |   | 353    |   |      |   |       |  |   |        |  |   | 17     |   |  |   | 966    |  
|Rental expense representative of interest factor           |  |                              | 98     |                         |      |   | 100    |  |   | 407    |   |      |   | 349    |  |   | 195     |  |   | 144    |   |  |   | 99     |  
|                                                           |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|TOTAL FIXED CHARGES                                        |  | $                            | 735    |                         |      | $ | 249    |  | $ | 1,544  |   |      | $ | 1,111  |  | $ | 576     |  | $ | 909    |   |  | $ | 3,870  |  
|                                                           |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|Preferred dividends on a pre-tax basis                     |  |                              |       |                         |      |   |       |  |   |       |   |      |   |       |  |   |        |  |   |       |   |  |   | 7,911  |  
|                                                           |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|TOTAL FIXED CHARGES AND PREFERRED DIVIDENDS                |  | $                            | 735    |                         |      | $ | 249    |  | $ | 1,544  |   |      | $ | 1,111  |  | $ | 576     |  | $ | 909    |   |  | $ | 11,781 |  
|                                                           |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|                                                           |  |                              |        |                         |      |   |       
|RATIO OF EARNINGS TO FIXED CHARGES                         |  |                              | 29.6   |                         |      |   | 97.0   |  |   | 40.4   |   |      |   | 45.4   |  |   | 180.6   |  |   | 66.4   |   |  |   | (1)    |  
|                                                           |  |                              |        |                         |      |   |        |  |   |        |   |      |   |        |  |   |         |  |   |        |   |  |   |        |  
|                                                           |  |                              |        |                         |      |   |       
|RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS |  |                              | 29.6   |                         |      |   | 97.0   |  |   | 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.
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|(2) | Earnings were inadequate to cover fixed charges and preferred dividends by $10.2 million for the year ended December 31, 1999.
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