EX-12.1 2 dex121.htm EXHIBIT 12.1 Exhibit 12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

     Fiscal Year Ended December 31,    

Quarter
Ended

March 31,

2007

  
     2002     2003     2004     2005     2006    

Earnings from continuing operations before income taxes

    $ 26,669,478     $ 33,509,484     $ 43,420,521     $ 232,330     $ 3,050,229     $ 5,895,973  

Capitalized interest

      (479,200 )     (1,083,470 )     (1,302,776 )     (2,233,021 )     (1,747,774 )     (436,426 )

Fixed Charges, as below

      10,211,647       6,921,397       6,861,607       7,392,243       7,348,790       2,789,004  
                                                

Earnings as adjusted

    $ 36,401,925     $ 39,347,411     $ 48,979,352     $ 5,391,552     $ 8,651,245     $ 8,248,551  

Fixed Charges:

             

Interest and debt expense

    $ 8,503,897     $ 4,970,437     $ 4,947,607     $ 5,369,169     $ 5,262,949     $ 2,146,964  

 1/3 of rent expense

      1,707,750       1,950,960       1,914,000       2,023,074       2,085,841       642,040  
                                                

Total Fixed Charges:

    $ 10,211,647     $ 6,921,397     $ 6,861,607     $ 7,392,243     $ 7,348,790     $ 2,789,004  

Ratio of Earnings to Fixed Charges

      3.56       5.68       7.14       —         1.18       2.96  

Deficiency of Earnings Available to Cover Fixed Charges

      —         —         —       $ 2,000,691       —         —