STOCK OPTION PLAN (Tables)
 12 Months Ended
Dec. 31, 2014
STOCK OPTION PLAN [Abstract]  
Changes in stock options outstanding
A summary of changes in stock options outstanding during the year ended December 31, 2014, is as follows:

  
2014
 
  
Numberof
Options
(in thousands)
  
Weighted
average
exercise
price
  
Weighted
average
remaining
contractual life
(in years)
  
Aggregate
intrinsic
value (in
thousands)
 
Outstanding at beginning of year
  
188
  
$
14.29
     
Granted
  
95
  
$
18.17
     
Exercised
  
(16
)
 
$
5.56
     
Forfeited or expired
  
(18
)
 
$
9.14
     
Outstanding at end of year
  
249
  
$
16.71
   
7.4
   
2,474
 
Options exercisable at year end
  
129
  
$
19.46
   
6.1
   
4,138
 
Assumptions used to calculate compensation expense and fair value of stock options granted
The following assumptions were used to calculate the compensation expense and the calculated fair value of stock options granted each year:
 
  
2014
  
2013
 
Dividend yield:
  
—
(1) 
  
—
(1) 
Risk-free interest rate:
  
1.3 - 1.5
%
  
0.7 - 1.4
%
Expected market price volatility:
  
77.1 – 80.5
%
  
80.3 – 82.3
%
Average expected life of stock options:
 
4.5 years
  
4.5 years
 
 
(1) The Company declared no dividends in 2014 or 2013.
Share-based compensation expense
The Company recorded the following amounts related to the expense of the fair values of options during the years ended December 31, 2014 and 2013 (in thousands):
 
  
2014
  
2013
 
Selling, general and administrative expenses and income from operations before income taxes
 
$
512
  
$
173
 
Benefit for income taxes
  
(137
)
  
(33
)
Effect on net income
 
$
375
  
$
140
 
Unrecognized compensation cost
As of December 31, 2014, the Company had approximately $0.6 million of total unrecognized compensation expense related to stock options currently outstanding, to be recognized in future years, ending December 31,
as follows (in thousands):

  
Total gross unrecognized
compensation expense
  
Total tax benefit associated
with unrecognized
compensation expense
  
Total net
unrecognized
compensation expense
 
2015
 
$
425
  
$
82
  
$
343
 
2016
  
225
   
18
   
207
 
2017
  
69
   
—
   
69
 
  
$
719
  
$
100
  
$
619