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<PAGE>
EXHIBIT 12.1
CALCULATION OF THE RATIO OF EARNINGS TO FIXED CHANGES
<TABLE>
<CAPTION>
SIX MONTHS SIX MONTHS FISCAL YEARS ENDED DECEMBER 31,
ENDED ENDED --------------------------------------
JUNE 30, 2000 JUNE 30, 1999 1999 1998
-------------------- -------------------- ----------------- -----------------
<S> <C> <C> <C> <C>
INCOME (LOSS) BEFORE INCOME TAXES $ 13,591,000 $ (410,000) $ 18,012,000 $ 8,106,000
NON-RECURRING ITEMS:
Powec (a) 2,282,000 - - -
TSD -C- 2,419,381 - - -
HD-BMP - (b) 5,057,966 (b) 5,057,966 -
CPS - - - (e) 2,900,000
ADS - - - -
-------------------- -------------------- ----------------- -----------------
TOTAL NON-RECURRING ITEMS: 4,701,381 5,057,966 5,057,966 2,900,000
STOCK COMPENSATION EXPENSE:
Powec - - - -
TSD (d) 15,733,848 - 261,821 -
HD-BMP - - - -
CPS - - - -
ADS 13,555 13,356 26,711 26,711
-------------------- -------------------- ----------------- -----------------
TOTAL STOCK COMP EXPENSE 15,747,403 13,356 288,532 26,711
FIXED CHARGES
RENT EXPENSE:
Powec 160,565 - - -
TSD 341,315 294,610 - -
HD-BMP 191,657 374,864 - -
CPS 182,212 182,212 - -
ADS 880,147 790,000 - -
-------------------- -------------------- ----------------- -----------------
TOTAL RENT EXPENSE 1,755,896 1,641,686 3,281,000 2,484,000
% OF RENT EXPENSE 33% 585,299 547,229 1,093,667 828,000
INTEREST EXPENSE:
Powec - - - -
TSD - - - -
HD-BMP - - - -
CPS - - - -
ADS - - - -
-------------------- -------------------- ----------------- -----------------
TOTAL INTERERST EXPENSE 1,620,000 1,714,000 3,211,000 898,000
AMORTIZATION OF DEBT FEES:
Powec - - - -
TSD - - - -
HD-BMP 1,604 1,604 3,208 -
CPS - - - -
ADS 342,836 18,216 36,432 -
-------------------- -------------------- ----------------- -----------------
TOTAL AMORT. OF DEBT FEES 344,440 19,820 39,640 -
-------------------- -------------------- ----------------- -----------------
TOTAL FIXED CHARGES 2,549,739 2,281,049 4,344,307 1,726,000
-------------------- -------------------- ----------------- -----------------
TOTAL EARNINGS $ 36,589,523 $ 6,942,370 $ 27,702,805 $ 12,758,711
RATIO OF EARNING TO FIXED CHARGES 14.350 3.043 6.377 7.392
<CAPTION>
------------------------------------------------------------
1997 1996 1995
---------------- ------------------- -------------------
<S> <C> <C> <C>
INCOME (LOSS) BEFORE INCOME TAXES $ 11,818,000 $ 5,123,894 $ 8,237,961
NON-RECURRING ITEMS:
Powec - - -
TSD - - -
HD-BMP - - -
CPS - - -
ADS - - -
---------------- ------------------- ------------------
TOTAL NON-RECURRING ITEMS: - - -
STOCK COMPENSATION EXPENSE:
Powec - - -
TSD 157,367 157,040 102,808
HD-BMP - - -
CPS - - -
ADS 13,369 - -
---------------- ------------------- ------------------
TOTAL STOCK COMP EXPENSE 170,736 157,040 102,808
FIXED CHARGES
RENT EXPENSE:
Powec - - -
TSD - 218,091 212,352
HD-BMP - - -
CPS - - -
ADS - - -
---------------- ------------------- ------------------
TOTAL RENT EXPENSE 1,944,000 1,570,091 1,461,352
% OF RENT EXPENSE 648,000 523,364 487,117
INTEREST EXPENSE:
Powec - - -
TSD - 151,099 47,965
HD-BMP - - -
CPS - - -
ADS - - -
---------------- ------------------- ------------------
TOTAL INTERERST EXPENSE 3,297,000 4,373,099 1,567,965
AMORTIZATION OF DEBT FEES:
Powec - - -
TSD - - -
HD-BMP - - -
CPS - - -
ADS - - -
---------------- ------------------- ------------------
TOTAL AMORT. OF DEBT FEES - - -
---------------- ------------------- ------------------
TOTAL FIXED CHARGES 3,945,000 4,896,463 2,055,082
---------------- ------------------- ------------------
TOTAL EARNINGS $ 15,933,736 $ 10,177,397 $ 10,395,851
RATIO OF EARNING TO FIXED CHARGES 4.039 2.079 5.059
</TABLE>
(a) $2,282,000 = $242,000 write off of Loan Fees related to previous
LOC. Need new LOC for Powec purchase and $2,040,000 to expense
FMV inventory write-up related to Powec.
(b) 5,057,966 = All nonrecurring costs incurred for all SBU's during
1999.
(C) $2,419,381 = 2,118,233 acquisition costs incurred by P1 for HCP
acquisition and 301,148 acquisition costs incurred by HCP.
(d) $13,504,688 = 13,311,669 compensation expense related to HCP
stock bonus agreements and 193,019 medicare payroll tax
applicable to HCP stock compensation charge. Plus $2,229,160
for TSD Stock comp charge in April 2000.
(e) $2,900,000 = Q3 + Q4 1998 FMV Inventory write-up charge related
to CPS.
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