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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2013

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:

		Three Months Ended
		March 31,
		2013				2012
Dividend yield			0	%			0	%
Volatility			62.69	%			64.92	%
Risk-free rate			0.61	%			0.68	%
Expected life		4.3 years				4.3 years
Fair value of options		$	5.13			$	5.88

Information Related to the Entity's Option Activity

Information related to option activity for the three months ended March 31, 2013 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			235,442			$	11.38
Granted			35,000				10.44
Exercised			-				-
Cancelled/forfeited/expired			(19,313	)			13.95
Outstanding at March 31, 2013			251,129			$	11.05				6.8			$	60,740
Exercisable at March 31, 2013			116,826			$	11.13				4.4			$	50,340
___________________________

* 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 March 31, 2013, was $11.00.

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 March 31, 2013 and the number and weighted average exercise price of options exercisable as of March 31, 2013 are as follows:

Exercise Price				Shares Under Outstanding Options				Weighted-Average Remaining Contractual Term				Shares Under Exercisable Options
								(in years)
$	3.84				4,000				0.9				4,000
$	10.44				35,000				4.9				35,000
$	10.90				21,000				4.2				21,000
$	10.90				104,000				9.2				-
$	11.22				49,129				7.7				18,826
$	11.54				12,000				3.9				12,000
$	11.75				12,000				2.9				12,000
$	14.32				14,000				1.9				14,000
					251,129				4.4				116,826

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Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (d)(2)

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph A240

-Subparagraph f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (f)(2)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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