Stockholders' Equity

9 Months Ended

Sep. 30, 2012

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 9. Stockholders' Equity

A summary of the changes in Stockholders' equity for the nine months ended September 30, 2012 is as follows:

	Stockholders'
(Amounts in thousands)	Equity
Balance December 31, 2011	$	249,195
Net Income		10,422
Dividend Payments		(6,612	)
Unrealized Foreign Currency Translation Gain		64
Unrealized Holding Gain on Marketable Securities		399
Net Change in Fair Value of Derivatives		(79	)
Stock-based compensation expense (net of forfeited shares)		222
Balance  September 30, 2012	$	253,611

Stock Repurchase Program

On January 25, 2008, the Company's Board of Directors approved a share repurchase program for up to a total of 1,000,000 shares of the Company's common stock. We expect that any share repurchases under this program will be made from time to time for cash in open market transactions at prevailing market prices. The timing and amount of any purchases under the program will be determined by management based upon market conditions and other factors.  In 2008, we repurchased 491,572 shares of our common stock for $11.5 million. Thereafter, we suspended repurchases until the second quarter of 2010, when we repurchased 223,051 shares of our common stock for $5.2 million.  Unless and until the Board otherwise provides, this authorization will remain open indefinitely, or until we reach the approved 1,000,000 share limit.

This table provides certain information with respect to the Company's purchase of shares of its common stock during the first nine months of 2012:

ISSUER PURCHASES OF EQUITY SECURITIES
Period	(a) Total Number of Shares Purchased		(b) Average Price Paid per Share		(c) Total Number of Shares Purchased as Part of Publicly Announced Plan		(d) Maximum Number of Shares that May Yet Be Purchased Under the Plan
July 1, 2012– July 31, 2012		-		-		-		285,377
August 1, 2012 – August  31, 2012		-		-		-		285,377
September  1, 2012 – September 30, 2012		-		-		-		285,377

Dividend Payments

During the nine months ended September 30, 2012, we paid cash dividends as follows:

(Amounts in Thousands Except per Share Data )				Total
		Per Share		Dividend
Record Date	Payment Date	Amount		Paid
February 15, 2012	March 1, 2012	$	0.375	$	2,690
May 16, 2012	June 1, 2012	$	0.250	$	1,801
August 16, 2012	September 4, 2012	$	0.250	$	1,801
				$	6,292

During this period, we paid an additional $314,000 in cash dividends related to unvested stock awards that accrued quarterly dividend payments.  Upon the vesting of these shares of restricted stock, these cash dividends were disbursed to the holders of those restricted shares. Additionally, in accordance with Section 2.1 of the 2011 Stock Incentive Plan, we accrued in the 3rd quarter of 2012 approximately $6,000 of dividend equivalents accumulated by the restricted stock units granted to certain employees in the second quarter of this year.