SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2011

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

NOTE F — SHARE-BASED COMPENSATION

The Company accounts for share-based compensation awards and for unvested awards outstanding using the modified prospective application method.  Accordingly, we recognized the fair value of the share-based compensation awards as wages in the Consolidated Statements of Earnings on a straight-line basis over the vesting period.  We have recognized compensation expense, relative to share-based awards, in wages in the Consolidated Statements of Earnings of approximately $113,000 and $149,000, less than $0.01 per share, for the three months ended June 30, 2011, and 2010, and approximately $227,000 and $274,000, or approximately $0.01 per share, for the six months ended June 30, 2011, and 2010, respectively.

As of June 30, 2011, there was approximately $190,000 of unrecognized compensation expense related to our two share-based compensation plans which the Company expects to recognize over a period of three years.