Stockholders' Equity

9 Months Ended

Sep. 30, 2011

Stockholders' Equity

Stockholders' Equity

(9) Stockholders’ Equity

Changes in stockholders’ equity during the nine months ended September 30, 2011 were as follows (in thousands):

											Accumulated
			Additional					Treasury			other			Total
	Common		paid-in		Accumulated			stock			comprehensive			stockholders’
	stock		capital		deficit			at cost			loss			equity
Balance at December 31, 2010	$	187	$	163,422	$	(36,593	)	$	(2	)	$	(2,227	)	$	124,787
Net income	—		—		11,920			—			—			11,920
Other comprehensive loss	—		—		—			—			(603		)	(603		)
Stock-based compensation	—		1,414		—			—			—			1,414
Share repurchases	—		—		—			(956		)	—			(956		)
Other	1		768		—			182			—			951
Balance at September 30, 2011	$	188	$	165,604	$	(24,673	)	$	(776	)	$	(2,830	)	$	137,513

Share Repurchase Program

In September 2011, the Company’s Board of Directors authorized a $5 million share repurchase program to replace the existing authorization which had approximately $1.2 million remaining at the time of approval. The repurchases will be made at management’s discretion in accordance with applicable federal securities law.  The amount and timing of share repurchases will depend on a variety of factors, including market conditions and prevailing stock prices. The share repurchase authorization does not obligate the Company to acquire any specific number of shares in any period, and may be modified, suspended or discontinued at any time at the discretion of the Company’s Board of Directors. During the three and nine months ended September 30, 2011, the Company repurchased 88,023 and 88,342 shares, respectively, in the open market for $952,000 and $956,000, respectively.