STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2011

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

The Company has the following five stock option plans, which are described more fully in the Company’s Annual Report on Form 10-K for the year ending December 31, 2010:

•Employee Stock and Stock Option Plan, effective July 1, 1994;

•1993 Stock Option Plan;

•1997 Stock Incentive Plan;

•Amended and Restated 2000 Stock Option Plan; and

•2007 Stock Incentive Plan.

The Company’s board of directors does not intend to issue any additional options under the Employee Stock and Stock Option Plan, 1993 Stock Option Plan, 1997 Stock Incentive Plan or Amended and Restated 2000 Stock Option Plan.

Total stock-based compensation expense included in wages, salaries and related costs was $14,000 for the three months ended September 30, 2011 and $34,000 for the three months ended September 30, 2010.  Total stock-based compensation expense included in wages, salaries and related costs was $80,000 for the nine months ended September 30, 2011 and $107,000 for the nine months ended September 30, 2010.  These compensation expenses were charged to selling, general and administrative expenses. As of September 30, 2011, the Company had $16,000 of total unrecognized compensation expense related to stock option grants, which will be recognized over the remaining weighted average period of one year.

Additionally, under the 2007 Stock Incentive Plan, restricted stock was awarded to the members of the Board of Directors of the Company as partial compensation for Board of Director meeting attendance. Restricted stock compensation expense of $6,000 was recorded during the three months ended September 30, 2011.