Compensation Related Costs, Share Based Payments

3 Months Ended

Dec. 31, 2011

Compensation Related Costs, Share Based Payments

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

10.  STOCK-BASED COMPENSATION

The Company recorded stock-based compensation expense related to stock-based awards granted under its various employee and non-employee stock incentive plans of $690 and $644 for the three months ended December 31, 2011 and 2010, respectively, and $2,514 and $1,509 for the nine months ended December 31, 2011 and 2010, respectively.

          The Company’s shareholders amended the 2007 Incentive Plan (the “2007 Plan”) at its Annual Meeting of Shareholders on August 6, 2009.  The 2007 Plan is an omnibus plan that provides the flexibility to grant a variety of equity awards including stock options, stock appreciation rights, stock awards, stock units, performance awards and incentive awards to officers, directors and employees of the Company. 

          During the three months and nine months ended December 31, 2011 and 2010, respectively, the Company made the following stock-based compensation awards:

	Three Months Ended December 31,		Nine Months Ended December 31,
(in thousands, except grant date fair value)	2011	2010	2011	2010
Restricted Stock
Number Granted	-	-	-	143
Grant Date Fair Value	$    -	$        -	$       -	$   3.34
Restricted Stock Units
Number Granted	-	947	146	947
Grant Date Fair Value	$    -	$    4.59	$ 3.27	$   4.59
Performance Shares
Number Granted	-	-	-	-
Grant Date Fair Value	$    -	$        -	$       -	$       -
Performance Based Restricted Stock Units
Number Granted	-	2,048	-	2,048
Grant Date Fair Value	$    -	$    4.59	$       -	$   4.59

          Under the terms of both the Performance Shares and Performance Based Restricted Stock Units, shares ultimately issued will be contingent upon specified business performance goals.  If minimum standards are not attained, compensation paid under these awards will be zero.  Alternatively, if the maximum performance levels described by the plan are attained, the awards may be 150% of the stated award.