Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2014	Aug. 01, 2014
Document and Entity Information
Entity Registrant Name	TGC INDUSTRIES INC
Entity Central Index Key	0000799165
Document Type	10-Q
Document Period End Date	Jun. 30, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		21,957,167
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash and cash equivalents	$ 30,511,752	$ 16,130,374
Trade accounts receivable, net of allowance for doubtful accounts of $-0- in both periods	22,190,023	10,742,412
Cost and estimated earnings in excess of billings on uncompleted contracts	1,487,961	2,312,947
Prepaid expenses and other	5,690,372	1,808,411
Prepaid federal and state income tax		3,909,198
Total current assets	59,880,108	34,903,342
PROPERTY AND EQUIPMENT - at cost
Machinery and equipment	184,797,032	185,405,886
Automobiles and trucks	13,630,457	14,272,341
Furniture and fixtures	486,842	486,700
Leasehold improvements	14,994	14,994
Total property and equipment, gross	198,929,325	200,179,921
Less accumulated depreciation and amortization	(144,817,598)	(137,072,725)
Total property and equipment, net	54,111,727	63,107,196
Goodwill	201,530	201,530
Other assets	86,698	89,470
Total noncurrent assets	288,228	291,000
Total assets	114,280,063	98,301,538
CURRENT LIABILITIES
Trade accounts payable	15,445,579	4,097,819
Accrued liabilities	3,226,562	2,585,993
Billings in excess of costs and estimated earnings on uncompleted contracts	7,669,953	653,220
Federal and state income taxes payable	801,492
Current maturities of notes payable	9,265,098	8,434,879
Current portion of capital lease obligations	1,137,369	1,423,268
Total current liabilities	37,546,053	17,195,179
NOTES PAYABLE, less current maturities	3,216,695	6,483,112
CAPITAL LEASE OBLIGATIONS, less current portion	417,209	901,707
LONG-TERM DEFERRED TAX LIABILITY	3,418,378	4,590,739
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Preferred stock, $1.00 par value; 4,000,000 shares authorized; issued - none
Common stock, $.01 par value; 35,000,000 shares authorized; 22,102,502 and 22,090,127 issued and outstanding in each period, respectively	221,025	220,901
Additional paid-in capital	31,888,842	31,508,662
Retained earnings	42,005,215	41,757,515
Treasury stock, at cost, 145,335 shares in each period	(1,251,099)	(1,251,099)
Accumulated other comprehensive income (loss)	(3,182,255)	(3,105,178)
Total shareholders' equity	69,681,728	69,130,801
Total liabilities and shareholders' equity	$ 114,280,063	$ 98,301,538

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
CONSOLIDATED BALANCE SHEETS
Trade accounts receivable, allowance for doubtful accounts	$ 0	$ 0
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	22,102,502	22,090,127
Common stock, shares outstanding	22,102,502	22,090,127
Treasury stock, shares	145,335	145,335

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF EARNINGS
Revenue	$ 18,236,767	$ 31,487,231	$ 67,038,190	$ 94,691,644
Cost and expenses
Cost of services	17,656,710	28,286,561	51,570,608	71,519,202
Selling, general and administrative expense	2,157,893	2,453,946	4,772,558	4,834,487
Depreciation and amortization expense	4,856,051	6,367,015	9,931,433	13,053,384
Total cost and expenses	24,670,654	37,107,522	66,274,599	89,407,073
Income from operations	(6,433,887)	(5,620,291)	763,591	5,284,571
Interest expense	175,954	308,452	357,526	628,158
Income before income taxes	(6,609,841)	(5,928,743)	406,065	4,656,413
Income tax expense	(2,577,838)	(1,924,714)	158,365	2,308,970
NET INCOME (LOSS)	$ (4,032,003)	$ (4,004,029)	$ 247,700	$ 2,347,443
Earnings (loss) per common share:
Basic (in dollars per share)	$ (0.18)	$ (0.18)	$ 0.01	$ 0.11
Diluted (in dollars per share)	$ (0.18)	$ (0.18)	$ 0.01	$ 0.11
Weighted average number of shares outstanding:
Basic (in shares)	21,957,167	21,831,665	21,956,620	21,777,561
Diluted (in shares)	21,957,167	21,831,665	22,022,615	22,119,673

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income (loss)	$ (4,032,003)	$ (4,004,029)	$ 247,700	$ 2,347,443
Other comprehensive income (loss):
Unrealized loss on foreign currency translation adjustments	1,669,317	(1,358,573)	(77,075)	(2,849,185)
Comprehensive income (loss)	$ (2,362,686)	$ (5,362,602)	$ 170,625	$ (501,742)

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 247,700	$ 2,347,443
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,931,433	13,053,384
Gain on disposal of property and equipment	(152,746)	(397,936)
Non-cash compensation	380,304	659,249
Deferred income taxes	(1,172,361)	(1,861,680)
Changes in operating assets and liabilities
Trade accounts receivable	(11,473,218)	20,369,437
Cost and estimated earnings in excess of billings on uncompleted contracts	824,731	5,220,391
Prepaid expenses and other	(835,663)	526,865
Prepaid federal and state income tax	3,813,526
Other assets	2,752	(1,112)
Trade accounts payable	11,375,967	(10,462,324)
Accrued liabilities	628,655	(2,627,296)
Billings in excess of cost and estimated earnings on uncompleted contracts	7,016,733	(1,700,430)
Federal and state income taxes payable	741,364	(2,040,792)
NET CASH PROVIDED BY OPERATING ACTIVITIES	21,329,177	23,085,199
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,086,520)	(458,271)
Proceeds from sale of property and equipment	293,565	697,330
NET CASH USED IN INVESTING ACTIVITIES	(792,955)	239,059
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on notes payable	(5,479,474)	(6,293,682)
Principal payments on capital lease obligations	(794,281)	(1,109,478)
Proceeds from exercise of stock options		395,571
Payment of dividends		(939)
NET CASH USED IN FINANCING ACTIVITIES	(6,273,755)	(7,008,528)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	14,262,467	16,315,730
Effect of exchange rates on cash	118,911	(123,155)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	16,130,374	8,614,244
CASH AND CASH EQUIVALENTS AT END OF PERIOD	30,511,752	24,806,819
Supplemental cash flow information
Interest paid	357,527	628,158
Income taxes paid	(3,224,163)	6,211,443
Noncash investing and financing activities
Capital lease obligations incurred	30,260	368,396
Financed insurance premiums	3,045,297	3,064,370
Restricted stock awards to employees	100,200	25,441
Treasury shares issued for stock options exercised		$ 183,964

BASIS OF PRESENTATION	6 Months Ended
BASIS OF PRESENTATION	Jun. 30, 2014
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE A BASIS OF PRESENTATION The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all of the financial information and footnotes required by U.S. GAAP for complete financial statements. References to “we,” “us,” “our,” “its,” “TGC” or the “Company” refer to TGC Industries, Inc. and our subsidiaries. CRITICAL ACCOUNTING POLICIES A discussion of our critical accounting policies can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013. There have been no material changes to these policies (including critical accounting estimates and assumptions or judgments affecting the application of those estimates and assumptions) during the quarter ended June 30, 2014. Certain policies have been paraphrased herein for convenience. REVENUE RECOGNITION Seismic Surveys The Company provides seismic data acquisition survey services to its customers under general service agreements which define certain obligations for the Company and for its customers. The Company typically enters into a supplemental agreement setting forth the terms of each project, which may be cancelled by either party upon 30 days’ advance written notice. These supplemental agreements are either “turnkey” agreements providing for a fixed fee to be paid for each unit of seismic data acquired or “term” agreements providing for a fixed hourly, daily, or monthly fee during the term of the project. Under both types of agreements, the Company recognizes revenues when services have been performed and revenue is realizable. Services are defined to begin at the commencement of data acquisition. Revenues are deemed realizable when earned according to the terms of the contracts. Under turnkey agreements, the total number of units of seismic data to be gathered is set forth in the agreement. Revenue under turnkey agreements is recognized on a per unit of seismic data acquired rate as services are performed. Revenue under term agreements is recognized on a per unit of time worked rate as services are performed based on the time worked rate provided in the term agreement. In the event of a cancelled contract, revenue is recognized and the client is billed for services performed to the date of contract cancellation. When it becomes evident that the estimates of total costs to be incurred on a contract will exceed the total estimates of revenue to be earned, an estimated loss is recognized in the period in which the loss is identifiable. The asset “Cost and estimated earnings in excess of billings on uncompleted contracts” represents cost incurred on turnkey agreements in excess of billings on those agreements. The liability “Billings in excess of costs and estimated earnings on uncompleted contracts” represents billings on turnkey agreements in excess of cost on those agreements. ACCUMULATED OTHER COMPREHENSIVE INCOME Comprehensive income is a measure of income which includes both net income and other comprehensive income or loss. Other comprehensive income or loss results from items deferred from recognition in the statement of operations, which consists solely of foreign currency translation adjustments. Accumulated other comprehensive income (loss) is presented on the Company’s consolidated balance sheet as a part of shareholders’ equity. In addition, the Company reports comprehensive income and its components in a separate statement of comprehensive income. Foreign currency translation income or loss represents changes in foreign currency rates used to translate the assets, liabilities, revenues and expenses of the Company’s international subsidiary from the local currency. These changes in foreign currency rates may never be realized or may only be partially realized upon the ultimate disposition, if any, of the international subsidiary. The Company’s foreign investment is considered permanent in nature as the Company has no plans to divest it. RECENT ACCOUNTING PRONOUNCEMENTS In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Income Taxes (Topic 740) - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 clarifies the balance sheet presentation of an unrecognized tax benefit and was issued to resolve the diversity in practice that had developed in the absence any specific U.S. GAAP. ASU 2013-11 is applicable to all entities that have an unrecognized tax benefit due to a net operating loss carryforward, a similar tax loss, of a tax credit carryforward. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, and does not create any new disclosure requirements. The Company adopted ASU 2013-11 on January 1, 2014, and it did not have a significant effect on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue (Topic 606) - Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP and establishes a comprehensive revenue recognition standard for virtually all industries, including those that previously followed industry-specific guidance. The revenue standard’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. Three basic transition methods are available—full retrospective, retrospective with certain practical expedients, and a cumulative effect approach. Under the third alternative, an entity would apply the new revenue standard only to contracts that are incomplete under legacy U.S. GAAP at the date of initial application (i.e., January 1, 2017) and recognize the cumulative effect of the new standard as an adjustment to the opening balance of retained earnings. That is, prior years would not be restated and additional disclosures would be required to enable users of the financial statements to understand the impact of adopting the new standard in the current year compared to prior years that are presented under legacy U.S. GAAP. ASU 2014-09 is effective for annual periods beginning after December 15, 2016, including interim periods therein. Early adoption is prohibited. The Company will adopt ASU 2014-09 on January 1, 2017. The Company will begin evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.

MANAGEMENT PRESENTATION	6 Months Ended
MANAGEMENT PRESENTATION	Jun. 30, 2014
MANAGEMENT PRESENTATION
MANAGEMENT PRESENTATION	NOTE B — MANAGEMENT PRESENTATION In the opinion of management, all adjustments (consisting of normally recurring accruals) considered necessary for a fair presentation of financial position, results of operations, and changes in financial position have been included. The results of the interim periods are not necessarily indicative of results to be expected for the entire year. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted in this Form 10-Q report pursuant to certain rules and regulations of the Securities and Exchange Commission (the “SEC”). For further information, refer to the financial statements and the footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2014

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

NOTE C — EARNINGS (LOSS) PER SHARE

Basic earnings per common share are based upon the weighted average number of shares of common stock (“common shares”) outstanding. Diluted earnings per share are based upon the weighted average number of common shares outstanding and, when dilutive, common shares issuable for stock options, warrants, and convertible securities. All earnings per common share have been adjusted for the 5% stock dividend paid on May 14, 2013, to shareholders of record as of April 30, 2013.

The following is a reconciliation of net income (loss) and weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014		2013
	(Unaudited)						(Unaudited)
Basic:
Numerator:
Net income (loss)	$	(4,032,003	)	$	(4,004,029	)	$	247,700	$	2,347,443

Denominator:
Basic - weighted average common shares outstanding	21,957,167			21,831,665			21,956,620		21,777,561

Basic EPS	$	(0.18	)	$	(0.18	)	$	0.01	$	0.11

Diluted:
Numerator:

Net income (loss)	$	(4,032,003	)	$	(4,004,029	)	$	247,700	$	2,347,443

Denominator:
Weighted average common shares outstanding	21,957,167			21,831,665			21,956,620		21,777,561
Effect of Dilutive Securities:
Stock options	—			—			65,995		342,112
	21,957,167			21,831,665			22,022,615		22,119,673

Diluted EPS	$	(0.18	)	$	(0.18	)	$	0.01	$	0.11

- Definition

The entire disclosure for earnings per share.

+ References+ Details

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2014
INCOME TAXES
INCOME TAXES	NOTE E — INCOME TAXES Deferred income taxes reflect the impact of temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes. In addition, the Company paid, during the first six months of 2014, federal and various state estimated income taxes for tax year 2014, as well as various state income taxes for tax year 2013.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

SHARE-BASED COMPENSATION	6 Months Ended
SHARE-BASED COMPENSATION	Jun. 30, 2014
SHARE-BASED COMPENSATION.
SHARE-BASED COMPENSATION	NOTE F — SHARE-BASED COMPENSATION The Company accounts for share-based compensation awards and for unvested awards outstanding using the modified prospective application method. Accordingly, we recognized the fair value of the share-based compensation awards as wages in the Consolidated Statements of Operations on a straight-line basis over the vesting period. We have recognized compensation expense, relative to share-based awards, in wages in the Consolidated Statements of Operations of approximately $142,000 and $441,000, or less than $0.01 per share and approximately $0.02 per share, respectively, for the three months ended June 30, 2014, and 2013, and approximately $380,000 and $659,000, approximately $0.02 per share and $0.03 per share, for the six months ended June 30, 2014, and 2013, respectively. As of June 30, 2014, there was approximately $206,000 of unrecognized compensation expense related to our two share-based compensation plans which the Company expects to recognize over a period of three years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

BASIS OF PRESENTATION (Policies)	6 Months Ended
BASIS OF PRESENTATION (Policies)	Jun. 30, 2014
BASIS OF PRESENTATION
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all of the financial information and footnotes required by U.S. GAAP for complete financial statements. References to “we,” “us,” “our,” “its,” “TGC” or the “Company” refer to TGC Industries, Inc. and our subsidiaries.
REVENUE RECOGNITION	REVENUE RECOGNITION Seismic Surveys The Company provides seismic data acquisition survey services to its customers under general service agreements which define certain obligations for the Company and for its customers. The Company typically enters into a supplemental agreement setting forth the terms of each project, which may be cancelled by either party upon 30 days’ advance written notice. These supplemental agreements are either “turnkey” agreements providing for a fixed fee to be paid for each unit of seismic data acquired or “term” agreements providing for a fixed hourly, daily, or monthly fee during the term of the project. Under both types of agreements, the Company recognizes revenues when services have been performed and revenue is realizable. Services are defined to begin at the commencement of data acquisition. Revenues are deemed realizable when earned according to the terms of the contracts. Under turnkey agreements, the total number of units of seismic data to be gathered is set forth in the agreement. Revenue under turnkey agreements is recognized on a per unit of seismic data acquired rate as services are performed. Revenue under term agreements is recognized on a per unit of time worked rate as services are performed based on the time worked rate provided in the term agreement. In the event of a cancelled contract, revenue is recognized and the client is billed for services performed to the date of contract cancellation. When it becomes evident that the estimates of total costs to be incurred on a contract will exceed the total estimates of revenue to be earned, an estimated loss is recognized in the period in which the loss is identifiable. The asset “Cost and estimated earnings in excess of billings on uncompleted contracts” represents cost incurred on turnkey agreements in excess of billings on those agreements. The liability “Billings in excess of costs and estimated earnings on uncompleted contracts” represents billings on turnkey agreements in excess of cost on those agreements.
ACCUMULATED OTHER COMPREHENSIVE INCOME	ACCUMULATED OTHER COMPREHENSIVE INCOME Comprehensive income is a measure of income which includes both net income and other comprehensive income or loss. Other comprehensive income or loss results from items deferred from recognition in the statement of operations, which consists solely of foreign currency translation adjustments. Accumulated other comprehensive income (loss) is presented on the Company’s consolidated balance sheet as a part of shareholders’ equity. In addition, the Company reports comprehensive income and its components in a separate statement of comprehensive income. Foreign currency translation income or loss represents changes in foreign currency rates used to translate the assets, liabilities, revenues and expenses of the Company’s international subsidiary from the local currency. These changes in foreign currency rates may never be realized or may only be partially realized upon the ultimate disposition, if any, of the international subsidiary. The Company’s foreign investment is considered permanent in nature as the Company has no plans to divest it.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Income Taxes (Topic 740) - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 clarifies the balance sheet presentation of an unrecognized tax benefit and was issued to resolve the diversity in practice that had developed in the absence any specific U.S. GAAP. ASU 2013-11 is applicable to all entities that have an unrecognized tax benefit due to a net operating loss carryforward, a similar tax loss, of a tax credit carryforward. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, and does not create any new disclosure requirements. The Company adopted ASU 2013-11 on January 1, 2014, and it did not have a significant effect on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue (Topic 606) - Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP and establishes a comprehensive revenue recognition standard for virtually all industries, including those that previously followed industry-specific guidance. The revenue standard’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. Three basic transition methods are available—full retrospective, retrospective with certain practical expedients, and a cumulative effect approach. Under the third alternative, an entity would apply the new revenue standard only to contracts that are incomplete under legacy U.S. GAAP at the date of initial application (i.e., January 1, 2017) and recognize the cumulative effect of the new standard as an adjustment to the opening balance of retained earnings. That is, prior years would not be restated and additional disclosures would be required to enable users of the financial statements to understand the impact of adopting the new standard in the current year compared to prior years that are presented under legacy U.S. GAAP. ASU 2014-09 is effective for annual periods beginning after December 15, 2016, including interim periods therein. Early adoption is prohibited. The Company will adopt ASU 2014-09 on January 1, 2017. The Company will begin evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.

- Definition

Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.

+ References+ Details

EARNINGS (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2014

EARNINGS (LOSS) PER SHARE

Schedule of reconciliation of net income and weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share common share

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014		2013
	(Unaudited)						(Unaudited)
Basic:
Numerator:
Net income (loss)	$	(4,032,003	)	$	(4,004,029	)	$	247,700	$	2,347,443

Denominator:
Basic - weighted average common shares outstanding	21,957,167			21,831,665			21,956,620		21,777,561

Basic EPS	$	(0.18	)	$	(0.18	)	$	0.01	$	0.11

Diluted:
Numerator:

Net income (loss)	$	(4,032,003	)	$	(4,004,029	)	$	247,700	$	2,347,443

Denominator:
Weighted average common shares outstanding	21,957,167			21,831,665			21,956,620		21,777,561
Effect of Dilutive Securities:
Stock options	—			—			65,995		342,112
	21,957,167			21,831,665			22,022,615		22,119,673

Diluted EPS	$	(0.18	)	$	(0.18	)	$	0.01	$	0.11

EARNINGS (LOSS) PER SHARE (Details) (USD $)	0 Months Ended	3 Months Ended		6 Months Ended
EARNINGS (LOSS) PER SHARE (Details) (USD $)	May 14, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
EARNINGS (LOSS) PER SHARE
Percentage of dividend paid on common stock	5.00%			0.00%
Numerator:
Net income		$ (4,032,003)	$ (4,004,029)	$ 247,700	$ 2,347,443
Denominator:
Basic - weighted average common shares outstanding		21,957,167	21,831,665	21,956,620	21,777,561
Basic EPS (in dollars per share)		$ (0.18)	$ (0.18)	$ 0.01	$ 0.11
Numerator:
Net income		$ (4,032,003)	$ (4,004,029)	$ 247,700	$ 2,347,443
Denominator:
Weighted average common shares outstanding		21,957,167	21,831,665	21,956,620	21,777,561
Effect of Dilutive Securities:
Stock options				65,995	342,112
Diluted - weighted average common shares outstanding		21,957,167	21,831,665	22,022,615	22,119,673
Diluted EPS (in dollars per share)		$ (0.18)	$ (0.18)	$ 0.01	$ 0.11

SHARE-BASED COMPENSATION (Details) (USD $)	3 Months Ended		6 Months Ended
SHARE-BASED COMPENSATION (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
SHARE-BASED COMPENSATION.
Compensation expense of share-based awards recognized in wages	$ 142,000	$ 441,000	$ 380,000	$ 659,000
Unrecognized compensation expense related to share-based compensation plans	$ 206,000		$ 206,000
Number of share-based compensation plans	2		2
Period over which unrecognized compensation expense is expected to be recognized			3 years
Allocation of stock-based compensation cost
Compensation expense per share (in dollars per share)		$ 0.02	$ 0.02	$ 0.03
Maximum [Member]
Allocation of stock-based compensation cost
Compensation expense per share (in dollars per share)	$ 0.01

DIVIDENDS	6 Months Ended
DIVIDENDS	Jun. 30, 2014
DIVIDENDS
DIVIDENDS	NOTE D — DIVIDENDS On April 19, 2013, the Company declared a five percent (5%) stock dividend on its outstanding common shares. The 5% stock dividend was paid on May 14, 2013, to shareholders of record as of April 30, 2013. There have been no dividends declared or paid in 2014.

BASIS OF PRESENTATION (Details)	6 Months Ended
BASIS OF PRESENTATION (Details)	Jun. 30, 2014
BASIS OF PRESENTATION
Minimum period of prior notice to cancel supplemental agreement	30 days

DIVIDENDS (Details)	0 Months Ended	6 Months Ended
DIVIDENDS (Details)	May 14, 2013	Jun. 30, 2014	Apr. 19, 2013
DIVIDENDS
Percentage of dividend declared on common stock		0.00%	5.00%
Percentage of dividend paid on common stock	5.00%	0.00%