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STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2012

STOCK BASED COMPENSATION [Abstract]

Schedule of Black-Scholes-Merton ("BSM") option-pricing model

The fair value of the Company's employee stock options was estimated at the date of grant using a Black-Scholes-Merton ("BSM") option-pricing model using the following assumptions:

	Nine Months Ended
	September 30,
	2012		2011
Dividend yield	0%		0%
Volatility	57.88% - 65.89%		65.81%
Risk-free rate	0.64% - 1.09%		1.79%
Expected life	4.2 years - 6.5 years		4.3 years
Fair value of options	$5.54 - $6.06		$6.14

Information related to option activity

Information related to option activity for the nine months ended September 30, 2012 is as follows:

		Shares Under Options				Weighted-Average Exercise Price				Weighted- Average Remaining Contractual Term				Aggregate Intrinsic Value*
						(per share)				(in years)
Outstanding-beginning of year			180,942			$	16.50
Granted			139,000				10.96
Exercised			(6,000	)			9.04
Cancelled/forfeited/expired			(78,500	)			22.64
Outstanding at September 30, 2012			235,442			$	11.38				7.2			$	24,500
Exercisable at September 30, 2012			87,889			$	12.02				3.7			$	24,500
___________________________
* The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The per share market value of our common stock, as determined by the closing price on September 28, 2012, was $9.97.

Schedule of weighted average exercise price and weighted average remaining contractual life of options outstanding

The number, weighted average exercise price and weighted average remaining contractual life of options outstanding as of September 30, 2012 and the number and weighted average exercise price of options exercisable as of September 30, 2012 are as follows:

Exercise Price		Shares Under Outstanding Options		Weighted-Average Remaining Contractual Term		Shares Under Exercisable Options
				(in years)
$3.84		4,000		1.4		4,000
$10.90		21,000		4.7		21,000
$10.90		104,000		9.7		-
$11.22		54,442		8.2		10,889
$11.54		12,000		4.4		12,000
$11.75		12,000		3.4		12,000
$14.32		14,000		2.4		14,000
$14.98		14,000		0.4		14,000
		235,442		7.2		87,889

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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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