Stockholders' Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

9. Stockholders’ Equity

Common Stock Repurchases

In November 2008, the Company’s Board of Directors authorized a stock repurchase program for up to $30,000,000 of the Company’s shares of common stock, and in August 2011 authorized up to an additional $30,000,000. The shares may be purchased from time to time in the open market. During the years ended December 31, 2009, 2010 and 2011, the Company purchased an aggregate of 224,192, 831,773 and 850,031 shares of its common stock for $3,500,000, $12,203,000 and $16,797,000, respectively. During the years ended December 31, 2009, 2010 and 2011, the Company also purchased 41,212, 86,908 and 128,678 shares of restricted stock for $631,000, $1,300,000 and $3,209,000, respectively, which were withheld from employees to satisfy the minimum statutory tax withholding obligations upon the vesting of their restricted stock awards.