Stock Options and Equity Compensation Plan

9 Months Ended

Sep. 30, 2011

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Stock Options and Equity Compensation Plan

Note 8.     Stock Options and Equity Compensation Plan

For the three and nine month periods ended September 30, 2011, the Company recorded stock-based employee compensation expense of $6,000 and $53,000, respectively.  For the three month period ended September 30, 2010, all options were fully vested; therefore, the Company did not recognize any option compensation expense.  For the nine month period ended September 30, 2010, the Company recorded stock-based employee compensation expense of $91,000.  This compensation expense is included in the selling, general and administrative expenses in the accompanying consolidated statements of income.

The Company granted 23,500 and 23,404 options during the nine month periods ended September 30, 2011 and 2010.

As of September 30, 2011, there was approximately $158,000 of stock-based employee compensation expense related to non-vested awards which is expected to be recognized over a weighted average period of 4.33 years.

As all options issued under the Plan are Incentive Stock Options, the Company does not normally receive significant excess tax benefits relating to the compensation expense recognized on vested options.