Share-based Compensation (Tables)

3 Months Ended

Jun. 30, 2012

Weighted-average assumptions used to value the options granted

We determined the fair value of our option awards using the Black-Scholes option pricing model. We used the following weighted-average assumptions to value the options granted during the three months ended June 30:

	2012			2011

Expected life in years		4.74			5.21
Risk-free interest rate		0.82	%		1.83	%
Expected volatility		91.44	%		90.35	%
Expected dividend yield		0	%		0	%
Weighted-average grant date fair value	$	2.24		$	5.37

Stock option activity

The following table summarizes the activity related to our stock options during the three months ended June 30, 2012:

	Number of shares			Weighted average exercise price		Weighted average remaining life in years		Aggregate intrinsic value

Outstanding at March 31, 2012		2,083,000		$	3.64
Options exercised		32,000			3.27
Options surrendered		(46,000	)		4.36

Outstanding at June 30, 2012		2,069,000		$	3.62		2.82	$	2,676,000

Exercisable at June 30, 2012		1,943,000		$	3.38		2.35	$	2,770,000

Restricted shares activity

The following table summarizes the activity related to our restricted shares during the three months ended June 30, 2012:

	Number of Shares			Weighted average grant date fair value		Weighted average remaining life in years	Aggregate intrinsic value
Balance at March 31, 2012		70,000		$	6.30
Shares granted		118,000			3.67
Shares vested		(20,000	)		6.09		$	127,000

Balance at June 30, 2012		168,000		$	4.47	1.66	$	750,000