Stockholders' Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 12.

Stockholders' Equity

At December 31, 2011 and 2010, the Company had authorized shares of 20,000,000 in Common stock and 5,000,000 in Preferred stock.  No Preferred stock has been issued.  The Common stock has a par value of $.01 per share.  No par value has been assigned to the Preferred stock.

The Company's Board of Directors authorized the purchase of up to $25,000,000 in shares of its Common stock through a share repurchase program announced in May 2011 at prevailing market prices or privately negotiated transactions.  During 2011 the Company purchased 278,655 shares of common stock for approximately $6,480,000.  This authorization expires on December 31, 2013.

The Company's Board of Directors authorized the purchase of up to $40,000,000 in shares of its Common stock through share repurchase programs announced in 2008 at prevailing market prices or privately negotiated transactions.  There were no such repurchases of common stock under these programs during 2010.  During 2009 the Company purchased 86,141 shares of common stock for approximately $1,863,000.  The authorization expired on December 31, 2010.

Cash dividends of approximately $1,022,000 were paid in 2011.  No cash dividends on Common stock were paid in 2010 or 2009.