Stock Repurchase Program

3 Months Ended

Mar. 31, 2012

Stock Repurchase Program [Abstract]

Stock Repurchase Program

13. Stock Repurchase Program

In December 2011, the Company's Board of Directors approved a stock repurchase program authorizing the repurchase of up to an aggregate of $25 million of its outstanding shares of common. The repurchases will be made from time-to-time, at the Company's discretion, on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase program expires at the end of 2012, subject to periodic evaluation by the Board of Directors based on circumstances during the course of the year. The Company repurchased and retired 2,990 shares for an aggregate cost of $86,000 during the three months ended March 31, 2012, which reduced capital in excess of par by the excess cost over par value in the Company's unaudited condensed consolidated balance sheet at March 31, 2012. There were no unsettled share repurchases at March 31, 2012.