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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2012
STOCK-BASED COMPENSATION [Abstract] |
Information Related to Stock-based Compensation | Transactions in stock options under these plans are summarized as follows:
|  | Shares Under Option |  |  | Weighted- Average Exercise Price |
Outstanding—January 1, 2010: |  |  | 186,500 |  |  | $ | 21.02 |
Granted |  |  | 130,000 |  |  |  | 11.60 |
Exercised |  |  | (1,000 | ) |  |  | 3.84 |
Canceled |  |  | (64,000 | ) |  |  | 22.45 |
Outstanding—December 31, 2010: |  |  | 251,500 |  |  | $ | 15.86 |
Granted |  |  | 16,000 |  |  |  | 11.75 |
Exercised |  |  | (5,000 | ) |  |  | 3.84 |
Canceled |  |  | (81,558 | ) |  |  | 14.35 |
Outstanding—December 31, 2011: |  |  | 180,942 |  |  | $ | 16.50 |
Granted |  |  | 139,000 |  |  |  | 10.96 |
Exercised |  |  | (6,000 | ) |  |  | 9.04 |
Canceled |  |  | (78,500 | ) |  |  | 22.64 |
Outstanding—December 31, 2012: |  |  | 235,442 |  |  | $ | 11.38 |
Options exercisable—December 31, 2012: |  |  | 97,889 |  |  | $ | 11.94 |
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:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Volatility range |  |  | 57.88%—65.89 | % |  |  | 65.81 | % |  |  | 57.35%—64.31 | %
Risk-free rate range |  |  | 0.64%—1.09 | % |  |  | 1.79 | % |  |  | 1.80%—1.99 | %
Expected life |  | 4.2 years—6.5 years |  |  | 4.3 years |  |  | 4.3 years—6.5 years |
Fair value of options (per share) |  | $ | 5.54—$6.06 |  |  | $ | 6.14 |  |  | $ | 6.34—$7.38 |
Information Related to the Entity's Option Activity | Information related to the Company's option activity as of December 31, 2012, and changes during the year then ended is presented below:
|  | Shares Under Option |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value* |
|  |  |  |  | (per share) |  |  | (in years) |  |  |  |
Outstanding at January 1, 2012 |  |  | 180,942 |  |  | $ | 16.50 |  |  |  |  |  |  |
Granted |  |  | 139,000 |  |  |  | 10.96 |  |  |  |  |  |  |
Exercised |  |  | (6,000 | ) |  |  | 9.04 |  |  |  |  |  |  |
Canceled/forfeited/expired |  |  | (78,500 | ) |  |  | 22.64 |  |  |  |  |  |  |
Outstanding at December 31, 2012 |  |  | 235,442 |  |  | $ | 11.38 |  |  |  | 6.9 |  |  | $ | 25,560 |
Fully vested and exercisable at December 31, 2012 |  |  | 97,889 |  |  | $ | 11.94 |  |  |  | 3.9 |  |  | $ | 25,560 |
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* | 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 December 31, 2012, was $10.23.
Schedule of Nonvested Share Activity | A summary of the status of the Company's nonvested options as of December 31, 2012 and changes during the year ended December 31, 2012, is presented below:
|  | Number of Options |  |  | Weighted- Average Grant Date Fair Value |
Nonvested at January 1, 2012 |  |  | 44,442 |  |  | $ | 6.34 |
Granted |  |  | 139,000 |  |  |  | 5.96 |
Canceled/forfeited/expired |  |  | - |  |  |  | - |
Vested |  |  | (45,889 | ) |  |  | 5.83 |
Nonvested at December 31, 2012 |  |  | 137,553 |  |  | $ | 6.13 |
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 December 31, 2012 and the number and weighted average exercise price of options exercisable as of December 31, 2012 is as follows:
Exercise Price |  |  | Shares Under Outstanding Options |  |  | Weighted-Average Remaining Contractual Term |  |  | Shares Under Exercisable Options |
|  |  |  |  |  | (in years) |  |  |  |
$ | 3.84 |  |  |  | 4,000 |  |  |  | 1.2 |  |  |  | 4,000 |
$ | 10.90 |  |  |  | 21,000 |  |  |  | 4.4 |  |  |  | 21,000 |
$ | 10.90 |  |  |  | 104,000 |  |  |  | 9.4 |  |  |  | - |
$ | 11.22 |  |  |  | 54,442 |  |  |  | 7.9 |  |  |  | 20,889 |
$ | 11.54 |  |  |  | 12,000 |  |  |  | 4.2 |  |  |  | 12,000 |
$ | 11.75 |  |  |  | 12,000 |  |  |  | 3.2 |  |  |  | 12,000 |
$ | 14.32 |  |  |  | 14,000 |  |  |  | 2.2 |  |  |  | 14,000 |
$ | 14.98 |  |  |  | 14,000 |  |  |  | 0.2 |  |  |  | 14,000 |
|  |  |  |  | 235,442 |  |  |  | 6.9 |  |  |  | 97,889 |

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