Fair Value Measurements

6 Months Ended

Jun. 30, 2011

Fair Value Disclosure [Abstact]

Fair Value Measurements

Note 4.   Fair Value Measurements

The following table presents the Company’s financial assets and financial liabilities that are measured and recognized at fair value on a recurring basis, classified under the appropriate level of fair value hierarchy, as of June 30, 2011.  The Company did not hold any non-financial assets and/or non-financial liabilities subject to fair value measurements at June 30, 2011.

			June 30, 2011
			Quoted Prices in Active
			Markets for Identical		Significant Other		Significant
	Balance at		Items		Observable Inputs		Unobservable Inputs
(In thousands)	June 30, 2011		(Level 1)		(Level 2)		(Level 3)
Liability for foreign currency
derivative financial instruments
(including forward contracts)	$	12	$	-	$	12	$	-

Our foreign currency derivative financial instruments mitigate foreign exchange risks and include forward contracts.

The fair value of the Company’s debt is based on estimates using standard pricing models that take into account the present value of future cash flows as of the balance sheet date.  The computation of the fair value of these instruments is generally performed by the Company.  The carrying amounts and estimated fair values of the Company’s long-term debt, including current maturities, are summarized below:

	June 30, 2011				December 31, 2010
	Carrying		Fair		Carrying		Fair
(In thousands)	Value		Value		Value		Value
Long-term debt, including current portion	$	3,228	$	3,136	$	3,380	$	3,286
Long-term debt – convertible debentures		1,450		1,417		1,475		1,424
	$	4,678	$	4,553	$	4,855	$	4,710

The carrying amounts reported in the balance sheet for cash and cash equivalents, trade receivables, payables and accrued liabilities and short-term borrowings approximate fair value due to the short term nature of these instruments.  Accordingly, these items have been excluded from the above table.