STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2012

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

Schedule of stock-based compensation expense

For the three and six months ended June 30, 2012 and 2011, the Company’s stock-based compensation expense related to stock options, restricted stock and restricted stock units were as follows: 

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
Stock options	$	147	$	135	$	392	$	217
Restricted stock	368		915		993		1,416
Restricted stock units	440		193		491		193
Total	$	955	$	1,243	$	1,876	$	1,826

Changes in stock options

Changes in the Company’s stock options for the six months ended June 30,2012 and 2011 were as follows: 

	Six Months Ended
	June 30,
	2012				2011
	Number of Options Outstanding		Weighted Average Exercise Price per Share		Number of Options Outstanding		Weighted Average Exercise Price per Share
Options outstanding at January 1,	1,396,350		$	11.36	1,548,300		$	12.64
Granted	—		—		400,000		5.18
Expired	(14,700	)	15.29		(14,250	)	16.71
Options outstanding at June 30,	1,381,650		11.32		1,934,050		11.07
Options exercisable at June 30,	969,150		$	13.94	1,509,050		$	12.73

Quantity and vesting conditions for shares of restricted stock granted

A summary of the quantity and vesting conditions for shares of restricted stock granted for the six months ended June 30, 2012 was as follows:

Vesting conditions	Number of Shares of Restricted Stock Granted
Performance and service conditions (1)	562,830
Vest 50% on each of the second and third anniversaries of the grant date with service conditions only	35,000
Immediately vested	1,400
Vest 2/3 on the second anniversary of the grant date and 1/3 on the third anniversary of the grant date with service conditions only	20,000
Vest one-third on each of the first three anniversaries of the grant date with service conditions only	15,000
Total shares of restricted stock granted for the six months ended June 30, 2012	634,230

(1) The performance conditions with respect to the restricted stock may be satisfied as follows: 

(a) 50% of the shares of restricted stock may be earned on the basis of performance as measured by a “Take-out Ratio,” defined as the percentage of the direct, front line costs incurred for the year ending December 31, 2012 divided by the gross margin for the year ending December 31, 2012;

(b) 25% of the shares of restricted stock may be earned on the basis of performance as measured by an employee engagement score for the year ending December 31, 2012 based on an employee survey to be conducted by a global human resources consulting firm;

(c) 25% of the shares of restricted stock may be earned on the basis of performance as measured by “Cash Efficiency,” defined as (1) cash flow from operations for the year ending December 31, 2012 divided by (2) gross margin minus selling, general and administrative expenses for the year ending December 31, 2012.

(2) To the extent shares are earned on the basis of performance, such shares will vest on the basis of service as follows:

(a) 33% of the shares vest on the later of the first anniversary of the grant date or the determination that the performance conditions have been satisfied;

(b) 33% of the shares vest on the second anniversary of the grant date;

(c) 34% of the shares vest on the third anniversary of the grant date; provided that, in each case, the named executive officer remains employed by the Company from the grant date through the applicable service vesting date.

Changes in restricted stock

Changes in the Company’s restricted stock for the six months ended June 30, 2012 and 2011 were as follows:

	For The Six Months Ended
	June 30,
	2012				2011
	Number of Shares of Restricted Stock		Weighted Average Grant Date Fair Value		Number of Shares of Restricted Stock		Weighted Average Grant Date Fair Value
Non-vested restricted stock at January 1,	1,166,082		$	5.12	953,037		$	3.64
Granted	634,230		4.59		736,625		6.23
Vested	(416,200	)	4.92		(241,123	)	3.72
Forfeited	(129,679	)	5.55		(69,819	)	2.41
Non-vested restricted stock at June 30,	1,254,433		$	4.88	1,378,720		$	5.08

Changes in restricted stock units

Changes in the Company’s restricted stock units for the six months ended June 30, 2012 and 2011 were as follows:

	For The Six Months Ended
	June 30, 2012
	2012				2011
	Number of Shares of Restricted Stock Unit		Weighted Average Grant-Date Fair Value		Number of Shares of Restricted Stock Unit		Weighted Average Grant-Date Fair Value
Non-vested restricted stock units at January 1,	100,000		$	5.18	—		$	—
Granted	76,023		5.13		127,376		5.37
Vested	(76,023	)	5.13		(27,376	)	6.05
Non-vested restricted stock units at June 30,	100,000		$	5.18	100,000		$	5.18

Schedule of expenses and contributions for the prior years' employer-matching liability for the 401(k) plan

For the three months ended June 30, 2012 and 2011, the Company’s expenses and contributions to satisfy the prior years’ employer-matching liability for the 401(k) plan were as follows:

	For The Three Months Ended				For The Six Months Ended
	June 30,				June 30,
($ in thousands, except otherwise stated)	2012		2011		2012		2011
Expense recognized for the 401(k) plan	$	175	$	202	$	368	$	407
Contributions to satisfy prior years' employer-matching liability
Number of shares of the Company's common stock issued (in thousands)	—		—		124		92
Market value per share of the Company's common stock on contribution date (in dollars)	$	—	$	—	$	5.35	$	6.55
Non-cash contribution made for employer matching liability	$	—	$	—	$	666	$	602