Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT (Tables)

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LONG-TERM DEBT (Tables)
 6 Months Ended
Jun. 30, 2012
Long-Term Debt [Abstract]  
Schedule of Long-term debt, net of current portion
 
   
2012
    
2011
  
Long-term debt, net of current portion:
            
Term loan agreement, $33.0 million on October 29, 2010, maturing June 30, 2016, interest greater of 1 month LIBOR, or 1.5%, plus margin [4.5%-5.5%], LIBOR rates and margins are adjusted quarterly. (7.0% during the quarter ended March 31, 2012). Paid in full March 30, 2012.
   $ --     $ 26,400,000  
Swap agreement, $20.0 million on January 7, 2011, effective April 1, 2011, maturing April 1, 2016, interest received based on 1 month LIBOR, and paid at a fixed rate of 1.9% through August 31, 2011.  The swap was re-designated in September 2011 with interest to be received at the greater of 1.5% or 1 month LIBOR, and paid at a fixed rate of 3.06% until maturity. (average net settlement rates during the quarter ended March 31, 2012 were 1.56%). Terminated effective March 30, 2012.
         --           537,422  
Less current portion
     --       ( 4,950,000 )
    $ --     $ 21,987,422