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EARNINGS PER SHARE DATA (Tables)
12 Months Ended
Dec. 31, 2014
EARNINGS PER SHARE DATA [Abstract]  
Computation of Basic and Diluted Earnings per Share
The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):

 
December 31,
           
 
2014
 
2013
 
2012
Basic:
         
Weighted average shares outstanding
14,639
 
14,439
 
14,374
           
Net income (loss)
$    (45,238)
 
$  60,237
 
$  50,985
Convertible preferred stock dividend
(90)
 
(90)
 
(90)
Net income (loss)  attributable to common shareholders
 
$    (45,328)
 
 
$  60,147
 
 
$  50,895
Per share amount
$        (3.10)
 
$      4.17
 
$       3.54
           
Diluted:
         
Weighted average shares outstanding
14,639
 
14,439
 
14,374
Assumed conversion of convertible
 preferred stock
-
 
840
 
840
Total dilutive shares
14,639
 
15,279
 
15,214
Net income (loss) attributable to
 common shareholders
$    (45,328)
 
$  60,147
 
$  50,895
Convertible preferred stock dividend
-
 
90
 
90
Net income (loss) for diluted
 earnings per share
$    (45,328)
 
$  60,237
 
$  50,985
Per share amount
$        (3.10)
 
$    3.94
 
$    3.35