Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2012

Shareholders' Equity [Abstract]

Components of share-based compensation expense

The components of share-based compensation expense follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Stock option expense	$	66	$	137	$	132	$	253
Restricted stock expense		8		89		17		168
Restricted stock unit expense		58		48		110		107
SAR expense		168		156		326		334
ESPP expense		—		34		—		68
Total share-based payment expense	$	300	$	464	$	585	$	930

Activity regarding outstanding stock options

Activity regarding outstanding stock options for the six months ended June 30, 2012 is as follows:

	All Stock Options Outstanding
				Weighted Average
	Shares			Exercise Price
Options Outstanding as of December 31, 2011		446,975		$	12.55
Options Granted		—			—
Options Forfeited/Cancelled*		(31,400	)	$	14.40
Options Outstanding as of June 30, 2012		415,575		$	12.41
Option price range at June 30, 2012	$	6.63-$34.05

* See disclosure below regarding forfeitures.

Changes in unvested stock options

A summary of the Company’s unvested stock options at June 30, 2012 and changes during the six months ended June 30, 2012 is as follows:

	Options			Weighted Average Grant Date Fair Value
Unvested stock options
Unvested at December 31, 2011		107,200		$	4.63
Granted		—		$	—
Vested		—		$	—
Forfeited/cancelled*		(2,280	)	$	6.58
Unvested stock options at June 30, 2012		104,920		$	4.59

* See disclosure below regarding forfeitures.

Changes in unvested restricted stock

A summary of the Company’s unvested restricted stock at June 30, 2012 and changes during the six months ended June 30, 2012 is as follows:

	Restricted Stock			Weighted Average Grant Date Fair Value
Unvested Restricted Stock
Unvested at December 31, 2011		2,720		$	16.43
Granted		—		$	—
Vested		—		$	—
Forfeited/cancelled*		(340	)	$	16.77
Unvested restricted stock at June 30, 2012		2,380		$	16.38

* See disclosure below regarding forfeitures.

Changes in unvested restricted stock units

A summary of the Company’s unvested RSUs at June 30, 2012 and changes during the six months ended June 30, 2012 is as follows:

				Weighted
	Restricted			Average
	Stock			Grant-Date
	Units			Fair Value
Unvested at December 31, 2011		148,560		$	5.47
Granted		102,250		$	3.02
Vested		(16,950	)	$	5.10
Forfeited/cancelled*		(8,280	)	$	5.63
Unvested at June 30, 2012		225,580		$	4.38

* See disclosure below regarding forfeitures.

Weighted average fair value of SARs granted

The assumptions used to estimate the weighted average fair value of the SARs granted during the six months ended June 30, 2012 and 2011 were as follows:

	Six Months Ended June 30,
	2012			2011
Dividend yield		0.0	%		0.0	%
Risk-free interest rate		0.90	%		1.39	%
Volatility		85.0	%		95.7	%
Expected term (years)		5.0			3.8
Weighted-average fair value of SARs granted	$	2.02		$	4.75

Activity regarding outstanding SARs

Activity regarding outstanding SARs for the six months ended June 30, 2012 is as follows:

	All SARs Outstanding
				Weighted Average
	Shares			Exercise Price
SARs Outstanding as of December 31, 2011		787,690		$	5.63
SARs Granted		306,750		$	3.02
SARs Exercised		—			—
SARs Forfeited/Cancelled*		(42,600	)	$	5.96
SARs Outstanding as of June 30, 2012		1,051,840		$	4.86
SAR price range at June 30, 2012	$	1.53-$8.50

* See disclosure below regarding forfeitures.

Changes in unvested SARs

A summary of the Company’s unvested SARs at June 30, 2012 and changes during the six months ended June 30, 2012 is as follows:

				Weighted-Average Grant
	Shares			Date Fair Value Per Share
Unvested at December 31, 2011		583,740		$	3.64
Granted		306,750		$	2.02
Vested		(60,050	)	$	2.98
Forfeited*		(28,680	)	$	3.45
Unvested at June 30, 2012		801,760		$	3.08

* See disclosure below regarding forfeitures.

Fair value of option granted under ESPP

The fair value of each option granted under the 2009 ESPP was estimated on the date of grant using the Black-Scholes-Merton option-pricing model with the following assumptions:

	Six Months Ended June 30, 2011
Dividend yield		0	%
Risk-free interest rate		0.29	%
Volatility		73.5	%
Expected term (years)		1.0