Stock Based Compensation

6 Months Ended

Jun. 30, 2011

Stock Based Compensation [Abstract]

Stock Based Compensation

(10)    Stock Based Compensation

The Company recognizes compensation costs for stock option awards to employees based on their grant-date fair value.  The value of each stock option is estimated on the date of grant using the Black-Scholes option-pricing model.  The weighted-average fair value per share for stock options granted to employees during the six months ended June 30, 2011 was $2.91.  The weighted-average fair value per share for stock options granted to employees during the three and six months ended June 30, 2010 was $2.45.

For the three months ended June 30, 2011 and 2010, the Company recorded $254 and $296, respectively, in selling, general and administrative expenses for stock options.  For the six months ended June 30, 2011 and 2010, the Company recorded $499 and $553, respectively, in selling, general and administrative expenses for stock options.  As of June 30, 2011, the total compensation cost related to unvested stock options not yet recognized was $1,927.  The cost will be amortized on a straight-line basis over the remaining weighted-average vesting period of 2.1 years.

For the three months ended June 30, 2011 and 2010, the Company recorded $148 and $198, respectively, in selling, general and administrative expenses for restricted stock awards.  For the six months ended June 30, 2011 and 2010, the Company recorded $202 and $393, respectively, in selling, general and administrative expenses for restricted stock awards.  As of June 30, 2011 the total compensation cost related to unvested restricted stock not yet recognized was $472.  The cost will be amortized on a straight-line basis over the remaining weighted-average vesting period of one year.

The following table is a summary of the Company's stock options:

Options	Number of Shares			Weighted Average Exercise Price
Outstanding at January 1, 2011		1,853,793		$	7.51
Granted		80,000		$	5.12
Forfeited or expired		(14,582	)	$	21.87
Outstanding at March 31, 2011		1,919,211		$	7.30
Forfeited or expired		(36,000	)	$	20.41
Outstanding at June 30, 2011		1,883,211		$	7.05
Exercisable at June 30, 2011		945,291		$	8.69

The aggregate intrinsic values for all stock options outstanding and exercisable as of June 30, 2011 were $172 and $73, respectively.

The following table is a summary of the Company's nonvested stock options and restricted stock:

	Nonvested Stock Options					Nonvested Restricted Stock
	Number of Shares			Weighted-Average Grant-Date Fair Value		Number of Shares			Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2011		990,170		$	2.57		105,324		$	6.17
Granted		80,000		$	2.91		-		$	-
Vested during period		(5,000	)	$	1.83		(46,425	)	$	6.98
Forfeited		(6,000	)	$	3.39		-		$	-
Nonvested at March 31, 2011		1,059,170		$	2.60		58,899		$	5.54
Granted		-		$	-		61,072		$	5.24
Vested during period		(121,250	)	$	2.14		-		$	-
Nonvested at June 30, 2011		937,920		$	2.66		119,971		$	5.39