SHARE-BASED COMPENSATION

9 Months Ended

Sep. 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 nine 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 September 30, 2012		1,051		$	1.58

The 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.  Non-cash compensation expense related to restricted stock totaled approximately $195,000 and $510,000 for the three and nine months ended September 30, 2012, respectively, and $101,000 and $279,000 for the three and nine months ended September 30, 2011, respectively. As of September 30, 2012, there was approximately $978,000 of unrecognized compensation cost related to the restricted shares, which is expected to be recognized over a weighted average period of 2.0 years.  The total fair value of restricted stock vested during the nine months ended September 30, 2012 and 2011 was approximately $303,000 and $232,000, respectively.