SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

SHARE-BASED COMPENSATION

NOTE G - SHARE-BASED COMPENSATION

Restricted Stock

A summary of activity in non-vested restricted stock awards during the first six months of 2012 follows (shares in thousands):

	Shares			Weighted average grant date fair value
Non-vested at January 1, 2012		531		$	1.65
Granted		710			1.57
Vested		(190	)		1.74
Forfeited		—			—
Non-vested at June 30, 2012		1,051		$	1.58

Fair value of restricted shares granted to employees and directors is based on the fair value of the underlying common stock at the grant date.  Compensation expense related to restricted stock totaled approximately $193,000 and $315,000 for the three and six months ended June 30, 2012, respectively, and $91,000 and $178,000 for the three and six months ended June 30, 2011, respectively. As of June 30, 2012, there was approximately $1,173,000 of unrecognized compensation cost related to the restricted shares, which is expected to be recognized over a weighted average period of 2.1 years.  The total fair value of restricted stock vested was approximately $303,000 and $232,000 for the six months ended June 30, 2012 and 2011, respectively.