STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2012

STOCKHOLDERS' EQUITY [Abstract]

Summary of transactions pertaining to restricted stock

The following is a summary of transactions pertaining to restricted stock:

	Shares			Weighted Average Grant Date Fair Value Per Share
Nonvested restricted stock outstanding at December 31, 2011		501,551		$	16.10
Restricted stock awarded		190,285			7.68
Restricted stock vested		(102,176	)		14.64
Nonvested restricted stock outstanding at September 30, 2012		589,660			13.64

Weighted average assumptions for grants

The fair value of the stock options used to compute stock-based compensation is the estimated present value at the date of grant using the Black-Scholes option pricing model.  The weighted average fair values of options granted during the nine months ended September 30, 2012 was $2.52 using the following weighted average assumptions for grants:

	As of September 30, 2012
Expected volatility		51.25	%
Expected dividend yield		3.59	%
Expected life (term)		4.65 years
Risk-free interest rate		0.87	%
Weighted-average exercise price during the year	$	7.79

Summary of transactions pertaining to stock options

The following is a summary of transactions pertaining to stock options:

	Shares			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)
Outstanding December 31, 2011		533,375		$	16.60	4.68 years	$	-
Granted		157,000			7.79			-
Canceled		(22,500	)		10.09
Exercised		-			-			-
Outstanding September 30, 2012		667,875			14.75	5.11 years		-
Vested or expected to vest		632,676			15.02	4.89 years		-
Exercisable as of September 30, 2012		491,881			16.49	3.69 years		-

Summary of stock options outstanding

The following table presents a summary of stock options outstanding:

	At September 30, 2012
	Stock Options Outstanding						Stock Options Exercisable
Range of Exercise Prices	Shares		Contractual Weighted Average Life (years)		Weighted Average Price		Shares		Weighted Exercise Price
$4.00-$13.99		268,292		7.32	$	9.68		121,292	$	11.97
$14.00-$19.99		277,083		3.44		16.42		262,421		16.22
$20.00-$25.00		122,500		4.06		22.07		108,168		22.23
		667,875		5.11		14.75		491,881		16.49