EX-12.1.1 3 c32944_ex12-11.txt EXHIBIT 12.1.1 Statement of Computation of Ratio of Earnings to Fixed Charges
Three Months YEAR ENDED DECEMBER 31, Ended March 31, ----------------------------------------------------------- 2004 2003 2002 2001 2000 1999 -------------- --------- --------- --------- ---------- --------- Determination of earnings: Income (loss) before income taxes $ 11,769 $ 43,189 $ 22,725 $ 15,287 $ (10,847) $ (7,784) Fixed charges 1,043 3,700 691 1,314 1,806 1,073 --------- --------- --------- --------- ---------- --------- Total earnings, as defined $ 12,812 $ 46,889 $ 23,416 $ 16,601 $ (9,041) $ (6,711) Fixed charges: Interest expense $ 648 $ 2,024 $ 40 $ 646 $ 1,277 $ 712 Amortization of debt issuance costs 223 700 -- 39 55 42 Lease rental expense representative of interest (1) 172 976 651 629 474 319 Preferred stock dividends -- -- -- -- -- -- --------- --------- --------- --------- ---------- --------- Total fixed charges $ 1,043 $ 3,700 $ 691 $ 1,314 $ 1,806 $ 1,073 Ratio of earnings to fixed charges 12.3 12.7 33.9 12.6 N/A N/A Deficiency of earnings available to cover fixed charges N/A N/A N/A N/A $ 10,847 $ 7,784
(1) Calculated as one-third of rentals, which is a reasonable approximation of the interest factor.