Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS (DEFICIT) TO FIXED CHARGES
| Year Ended December 31, | For
the Three Months Ended March 31, 2010 | ||||||||||||||||||
| 2005 | 2006 | 2007 | 2008 | 2009 | |||||||||||||||
| Unaudited (in thousands, except ratios) | |||||||||||||||||||
| EARNINGS |
|||||||||||||||||||
| (Loss) income from continuing operations |
$ | 10,895,000 | $ | 27,808,000 | $ | 37,775,000 | $ | (184,502,000 | ) | $ | 23,627,000 | $ | 9,981,000 | ||||||
| Interest expense |
250,000 | 1,956,000 | 3,091,000 | 4,762,000 | 2,309,000 | 718,000 | |||||||||||||
| Interest expense – Preferred Stock |
272,000 | — | — | — | — | — | |||||||||||||
| Income before fixed charges |
11,417,000 | 29,764,000 | 40,866,000 | (179,740,000 | ) | 25,936,000 | 10,699,000 | ||||||||||||
| FIXED CHARGES |
|||||||||||||||||||
| Interest expense |
250,000 | 1,956,000 | 3,091,000 | 4,762,000 | 2,309,000 | 718,000 | |||||||||||||
| Interest expense – Preferred Stock |
272,000 | — | — | — | — | — | |||||||||||||
| Total fixed charges |
522,000 | 1,956,000 | 3,091,000 | 4,762,000 | 2,309,000 | 718,000 | |||||||||||||
| Earnings/fixed charge coverage ratio |
21.9 | 15.2 | 13.2 | (37.7 | ) | 11.2 | 14.9 | ||||||||||||