Share-Based Compensation

6 Months Ended

Jun. 30, 2012

Share-Based Compensation [Abstract]

SHARE-BASED COMPENSATION

4. SHARE-BASED COMPENSATION:

Stock-based compensation expense under all of the Company’s share-based plans was $359 thousand and $706 thousand for the three- and six -month periods ended June 30, 2012, respectively. Stock-based compensation expense under all of the Company’s share-based plans was $361 thousand and $609 thousand for the three- and six -month periods ended June 30, 2011, respectively.

Cash received from the employee stock purchase plan (“ESPP”) and stock option exercises were $115 thousand and $240 thousand during the three- and six- month periods ended June 30, 2012, respectively. Cash received from ESPP and stock option exercises were $104 thousand and $233 thousand during the three-and six- month periods ended June 20, 2011, respectively.

As of June 30, 2012, unrecognized compensation expense, net of estimated forfeitures, related to the unvested portion of all share-based compensation arrangements was approximately $2.0 million and is expected to be recognized over a weighted-average period of 1.3 years.

The Company intends to use previously purchased treasury shares for shares issued for options, restricted share awards and ESPP purchases. Shares may also be issued from unissued share reserves.