7. Shareholders' equity

9 Months Ended

Sep. 30, 2012

Stockholders' Equity Note Disclosure [Text Block]

7. Shareholders’ equity

Changes in shareholders’ equity for the nine months ended September 30, 2012 were as follows (in thousands):

Balance at December 31, 2011	$	35,313
Net income		1,739
Share-based compensation expense		402
Proceeds from stock option exercises		145
Issuance of deferred stock units		134
Incremental tax benefits from stock options exercised		42
Foreign currency translation adjustment		16
Purchases of common stock for treasury		(5,563)
Balance at September 30, 2012	$	32,228

We paid a portion of the 2011 incentive bonus for the chief executive officer and chief financial officer in the form of deferred stock units.  Such deferred stock units were granted in March 2012 and were fully vested at the time of grant.