STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2013

The Company records stock-based compensation expense related to granting stock options in selling and administrative expenses. During the three months ended March 31, 2013 and 2012 the Company granted 75,000 and 5,000 stock options, respectively. The fair value of stock options granted during the three months ended March 31, 2013 ranged from $3.53 to $3.57 per share. The Company recognized compensation expense as follows for the three months ended March 31 (in thousands):

	Three months
	2013			2012
Total gross compensation expense		$	37		$	50
Total tax benefit associated with compensation expense			8			11
Total net compensation expense		$	29		$	39

Schedule of unrecognized compensation cost

As of March 31, 2013, the Company expects to record compensation expense in the future as follows (in thousands):

				Year ending December 31,
		Nine months ending December 31, 2013		2014		2015		2016
Total gross unrecognized compensation expense	$	112	$	101	$	85	$	15
Tax benefit associated with unrecognized compensation expense		19		16		13		2
Total net unrecognized compensation expense	$	93	$	85	$	72	$	13