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, |  
|---------------------------------------------------------- |  | ---------------------------- | ------ | ----------------------- | -
|                                                           |  | 2003                         |        | 2002                    |  
|EARNINGS AVAILABLE FOR FIXED CHARGES:                      |  |                              |        |                         |  
|Net income (loss)                                          |  | $                            | 15,298 |                         | $
|Less: Capitalized interest                                 |  |                              |       |                         |  
|Add: Fixed charges                                         |  |                              | 249    |                         |  
|Income tax expense                                         |  |                              | 8,605  |                         |  
|                                                           |  |                              |        |                         |  
|EARNINGS AVAILABLE                                         |  | $                            | 24,152 |                         | $
|                                                           |  |                              |        |                         |  
|FIXED CHARGES:                                             |  |                              |        |                         |  
|Interest expense                                           |  | $                            | 149    |                         | $
|Capitalized interest                                       |  |                              |       |                         |  
|Rental expense representative of interest factor           |  |                              | 100    |                         |  
|                                                           |  |                              |        |                         |  
|TOTAL FIXED CHARGES                                        |  | $                            | 249    |                         | $
|                                                           |  |                              |        |                         |  
|Preferred dividends on a pre-tax basis                     |  |                              |       |                         |  
|                                                           |  |                              |        |                         |  
|TOTAL FIXED CHARGES AND PREFERRED DIVIDENDS                |  | $                            | 249    |                         | $
|                                                           |  |                              |        |                         |  
|RATIO OF EARNINGS TO FIXED CHARGES                         |  |                              | 97.0   |                         |  
|                                                           |  |                              |        |                         |  
|RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS |  |                              | 97.0   |                         |  
|                                                           |  |                              |        |                         |  

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|(1) |  | Earnings were inadequate to cover fixed charges by $2.3 million and $7.1 million for the years ended December 31, 1999 and 1998, respectively.
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|(2) |  | Earnings were inadequate to cover fixed charges and preferred dividends by $10.2 million and $14.2 million for the years ended December 31, 1999 and 1998,
respectively.
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