Share-based Compensation (Tables)

3 Months Ended

Jun. 30, 2013

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:

	2013			2012

Expected life in years		5.53			4.74
Risk-free interest rate		0.84	%		0.82	%
Expected volatility		81.96	%		91.44	%
Expected dividend yield		0	%		0	%
Weighted-average grant date fair value	$	1.42		$	2.24

Stock option activity

The following table summarizes the activity related to our stock options during the three months ended June 30, 2013:

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

Outstanding at March 31, 2013		2,016,000		$	3.51		2.64	$	598,000
Options granted		12,000			2.11
Options surrendered		(205,000	)		3.64

Outstanding at June 30, 2013		1,823,000		$	3.48		2.53	$	444,000

Exercisable at June 30, 2013		1,584,000		$	3.45		2.00	$	444,000

Restricted shares activity

The following table summarizes the activity related to our restricted shares during the three months ended June 30, 2013:

	Number of Shares			Weighted average grant date fair value		Weighted average remaining life in years		Aggregate intrinsic value
Balance at March 31, 2013		180,000		$	4.39		1.50	$	790,000
Shares vested		(29,000	)		4.71
Shares forfeited		(71,000	)		4.42

Balance at June 30, 2013		80,000		$	4.24		1.76	$	337,000