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STOCK-BASED COMPENSATION
9 Months Ended
Sep. 30, 2011
STOCK-BASED COMPENSATION
7.
STOCK-BASED COMPENSATION
 
Stock compensation expense was $100,000 for each of the three month periods September 30, 2011 and 2010 and stock compensation expense was $300,000 for each of the nine month periods ended September 30, 2011 and 2010.  Stock compensation expenses are included in selling, general and administrative expenses in the accompanying consolidated statements of income. The Company did not issue any stock options during the three months and nine months ended September 30, 2011. As of September 30, 2011, the Company had $432,000 of unrecognized compensation expense related to stock options with $100,000 to be expensed during the remainder of 2011 and $332,000 to be expensed in 2012. For additional disclosures related to the Company’s stock-based compensation refer to Notes 2 and 5 of the Notes to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010.
 
During the three months ended September 30, 2011 and 2010, options were exercised for the purchase of 49,193 shares of common stock at a weighted-average exercise price of $6.11 and 13,833 shares of common stock at a weighted-average exercise price of $5.95, respectively. During the nine months ended September 30, 2011 and 2010, options were exercised for the purchase of 347,845 shares of common stock at a weighted-average exercise price of $6.04 and 59,375 shares of common stock at a weighted-average exercise price of $6.10, respectively.