v2.4.0.8

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2013

Stock-Based Compensation [Abstract]

Valuation assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used for grants in the three and six months ended June 30, 2013 and 2012.

			Six months ended			Six months ended			Three months ended			Three months ended
			June 30, 2013			June 30, 2012			June 30, 2013			June 30, 2012
Expected dividend yield1			1.37	%		4.39	%		-	%		4.72	%
Expected stock price volatility			54.66	%		60.85	%		52.68	%		60.61	%
Risk-free interest rate			2.08	%		1.79	%		2.10	%		1.89	%
Expected life of options			4.56	Years		4.47	Years		4.53	Years		4.46	Years
Estimated fair value per option granted			$1.63			$1.89			$1.61			$1.83

¹The Company suspended quarterly dividend payments during the three months ended June 30, 2013.

Information about common stock options and restricted grants

The following table presents information about outstanding common stock options and restricted grants as of June 30, 2013:

			Options and Awards Outstanding								Options Exercisable
Range of Exercise Prices			Shares			Weighted-Average Remaining Contractual Life (years)		Weighted-Average Exercise Price				Shares		Weighted-Average Exercise Price
Restricted Stock Awards
$0.00			245,822			2.41			N/A			N/A			N/A
Stock Options
$4.50   -  6.93			558,865			9.18		$	4.53			558,865		$	4.81
6.94  -  10.39			59,603			5.82			8.50			59,603			8.56
10.40 -  13.86			129,354			6.33			11.40			129,354			11.47
13.87  - 17.32			22,464			2.65			16.78			22,464			16.78
17.33  - 20.79			5,496			4.86			18.41			5,496			18.41
20.80  - 24.25			1,000			2.12			21.09			1,000			21.09
24.26  - 27.72			6,500			2.60			26.95			6,500			26.95
27.73  - 31.18			5,958			3.38			29.74			5,958			29.74
31.19  - 34.65			3,711			3.85			34.65			3,711			34.65
Total Stock Options			792,951			8.11		$	6.92			792,951		$	11.33
Combined			1,038,773			6.76		$	5.29			792,951		$	11.33

Stock options and restricted stock stock activity

The following table presents information about stock option and restricted stock activity during the six months ended June 30, 2013:

			Restricted Stock Awarded		Weighted-Average Grant Date Fair Value				Stock Options		Weighted-Average Exercise Price
Balance at December 31, 2012			446,946		$	7.24			1,877,500		$	11.02
Granted			54,907			3.84			129,119			3.89
Forfeited			(6,924)			6.64			(1,212,547)			12.95
Vested			(249,107)			7.97			N/A			N/A
Exercised			N/A			N/A			(1,121)			4.52
Balance at June 30, 2013			245,822		$	5.75			792,951		$	6.92

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- Definition

Tabular disclosure of share-based compensation plans that may be presented in a single table for outstanding, vested and expected to vest, and exercisable awards. The information that may be disclosed in this table may include, but is not limited to, number of shares, weighted average exercise price, weighted average remaining contractual life, and aggregate intrinsic value.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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