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Stock-Based Compensation and Stock Options (Tables)
12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Weighted-Average Assumptions used in Black-Scholes Option Pricing Model
The fair value of 2009 and 2012 stock options was estimated using the Black-Scholes option pricing model with the following weighted-average assumptions:
 
 
 
 
 
 
2009
 
2012
Weighted-average fair value of options granted per share
$
11.56

 
$
19.08

Historical volatility
93
%
 
74
%
Risk-free interest rate
2.56
%
 
1.11
%
Dividend yield

 

Expected life in years
6.25

 
6.25

Schedule of Option Activity
Option activity as of December 31, 2012 and changes during the years ended December 31, 2010, 2011, and 2012 were as follows:
 
 
Shares
 
Weighted-Average
Exercise Price
 
Weighted-Average
Remaining
Contractual Life
 
Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
(In thousands)
Outstanding at January 1, 2010
317,725

 
$
14.26

 
2.09 years
 
$
9,900

Outstanding at December 31, 2010
317,725

 
$
14.26

 
8.44 years
 
$
8,616

Exercisable and fully vested at December 31, 2010
17,725

 
$
2.28

 
0.95 years
 
$
693

Outstanding at January 1, 2011
317,725

 
$
14.26

 
 
 
 
Exercised
(17,725
)
 
$
2.28

 
 
 
 
Outstanding at December 31, 2011
300,000

 
$
14.97

 
7.89 years
 
$
2,883

Exercisable and fully vested at December 31, 2011
75,000

 
$
14.97

 
7.89 years
 
$
721

Outstanding at January 1, 2012
300,000

 
$
14.97

 
 
 
 
Options granted
100,000

 
$
28.98

 
 
 
 
Outstanding at December 31, 2012
400,000

 
$
18.47

 
7.43 years
 
$
1,206

Exercisable and fully vested at December 31, 2012
150,000

 
$
14.97

 
6.89 years
 
$
603

Schedule of Outstanding Options
Outstanding options at December 31, 2012 were as follows:
 
Exercise Price
 
Shares
Outstanding
 
Options  Outstanding
Weighted-
Average
Remaining
Contractual
Life
 
Weighted-
Average
Exercise
Price
 
Shares
Outstanding
and
Exercisable
 
Options  Exercisable
Weighted-
Average
Remaining
Contractual
Life
 
Weighted-
Average
Exercise
Price
$
14.97

 
300,000

 
6.89 years
 
$
14.97

 
150,000

 
6.89 years
 
$
14.97

$
28.98

 
100,000

 
9.07 years
 
$
28.98

 

 
9.07 years
 
$
28.98