Note 7 - Stockholders' Equity

3 Months Ended

Mar. 31, 2012

Stockholders' Equity Note Disclosure [Text Block]

(7)           Stockholders’ Equity

During the three months ended March 31, 2012, the Company issued approximately 8,000 shares of common stock to settle stock options exercised during the period.

During the three months ended March 31, 2012, the Company issued approximately 2,000 shares of common stock to settle vested restricted stock units granted in the prior year to an outside consultant as compensation to be provided in the upcoming year.  The Company records the expense related to these awards in SGA expenses over the requisite service period.

During the three months ended March 31, 2012, the Company repurchased approximately 39,000 shares of its common stock under its share repurchase program.  These shares were repurchased at an average cost of $9.91 per share for a total cost of approximately $387,000.

Repurchased shares of the Company’s common stock are held as treasury shares until they are reissued or retired. When the Company reissues treasury stock, if the value of the transaction is greater than the average price paid to acquire the shares, an increase in additional paid-in capital is recorded. Conversely, if the value of the transaction is less than the average price paid to acquire the shares, a decrease is recorded to additional paid-in capital to the extent of increases previously recorded for similar transactions, and a decrease is recorded in retained earnings for any remaining amount.