STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2014

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, 2012		1,341,084		$	7.79
Granted		434,308			5.62
Cancelled		(33,529	)		16.70
Vested		(493,917	)		7.41
Nonvested restricted stock outstanding at December 31, 2013		1,247,946			6.77
Granted		337,100			3.50
Cancelled		(178,792	)		6.47
Vested		(480,435	)		5.36
Nonvested restricted stock outstanding at December 31, 2014		925,819			5.04

Weighted average assumptions for grants

The weighted average fair values of options granted during 2012 was $2.52 using the following weighted average assumptions for grants:

	At December 31, 2012
Expected volatility		51.25	%
Expected dividend yield		4	%
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 option plans

The following is a summary of transactions pertaining to the option plans:

	Shares			Weighted  Average Exercise Price Per Share		Weighted  Average Remaining  Contractual  Term	Aggregate Intrinsic Value
Outstanding December 31, 2011		533,375		$	16.60	4.68 years	$	-
Granted		157,000			7.79
Cancelled		(34,500	)		12.26			-
Outstanding December 31, 2012		655,875			14.72	4.89 years		-
Cancelled		(108,750	)		14.64			-
Outstanding December 31, 2013		547,125			14.73	4.56 years		-
Cancelled		(122,958	)		18.49
Outstanding December 31, 2014		424,167			13.65	4.18 years		-
Vested or expected to vest as of December 31, 2014		415,035			13.77	4.11 years		-
Exercisable as of December 31, 2014		378,507			14.35	3.82 years		-

Summary of options outstanding

The following table presents a summary of options outstanding at December 31, 2014:

	At December 31, 2014
	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		232,334		5.27	$	9.50		186,674	$	9.92
$14.00-$19.99		133,333		2.50		17.86		133,333		17.86
$20.00-$25.00		58,500		3.67		20.48		58,500		20.48
		424,167		4.18		13.65		378,507		14.35