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Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2012
Stock-based Compensation [Abstract]  
Options granted, exercised, or expired
                 
    Number
of Shares
    Weighted-Average
Exercise Price

Per Share
 

Outstanding - January 1, 2012

    81,500     $ 26.91  

Granted

    100,000     $ 12.93  

Exercised

    —         —    

Forfeited or expired

    (26,000   $ 32.29  
   

 

 

   

 

 

 

Outstanding - June 30, 2012

    155,500     $ 17.02  
   

 

 

   

 

 

 
Information regarding options granted in current year
         

Black-Scholes Assumptions for Options Granted During the Six Months Ended June 30, 2012:

 

Risk-free interest rate

    0.83

Expected dividend yield

    —    

Expected life in years

    10  

Expected volatility

    42.98
Summary of options outstanding and exercisable
                                                 
    Outstanding     Exercisable  

Range of Exercise Prices

  Shares     Weighted-Average
Remaining
Contractual Life
    Weighted-Average
Exercise Price
    Shares     Weighted-Average
Remaining
Contractual Life
    Weighted-Average
Exercise Price
 

$10.79 - $12.44

    90,000       9.7 years     $ 11.47       —         —         —    

$13.13 - $13.44

    60,000       9.7 years     $ 13.34       —         —         —    

$28.30 - $31.83

    19,000       4.6 years     $ 30.36       19,000       4.6 years     $ 30.36  

$32.90 - $34.95

    16,500       3.7 years     $ 34.00       16,500       3.7 years     $ 34.00  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
      185,500       8.6 years     $ 16.01       35,500       4.2 years     $ 32.05