Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended December 31, | For the Six Months June 30, 2007 | |||||||||||||||||
| 2002 | 2003 | 2004 | 2005 | 2006 | ||||||||||||||
| Unaudited (in thousands, except ratios) | ||||||||||||||||||
| EARNINGS |
||||||||||||||||||
| Income from continuing operations |
$ | 441,000 | $ | 619,000 | $ | 4,304,000 | $ | 10,895,000 | $ | 27,808,000 | $ | 16,910,000 | ||||||
| Interest expense |
181,000 | 112,000 | 246,000 | 250,000 | 1,956,000 | 1,325,000 | ||||||||||||
| Interest expense – Preferred Stock |
— | 875,000 | 1,949,000 | 272,000 | — | — | ||||||||||||
| Income before fixed charges |
622,000 | 1,606,000 | 6,499,000 | 11,417,000 | 29,764,000 | 18,235,000 | ||||||||||||
| FIXED CHARGES |
||||||||||||||||||
| Interest expense |
181,000 | 112,000 | 246,000 | 250,000 | 1,956,000 | 1,325,000 | ||||||||||||
| Interest expense – Preferred Stock |
— | 875,000 | 1,949,000 | 272,000 | — | — | ||||||||||||
| Total fixed charges |
$ | 181,000 | $ | 987,000 | $ | 2,195,000 | $ | 522,000 | $ | 1,956,000 | $ | 1,325,000 | ||||||
| Earnings/fixed charge coverage ratio |
3.4 | 1.6 | 3.0 | 21.9 | 15.2 | 13.8 | ||||||||||||