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Long-term Debt
6 Months Ended
Jun. 30, 2012
Long-term Debt [Abstract]  
Long-term Debt
 
6.
Long-term Debt

Long-term debt consists of the following:
 
   
June 30,
  
December 31,
 
   
2012
  
2011
 
        
Notes payable, principal and interest payable monthly, at fixed rates, 2.56% at June 30, 2012 and 6.48% to 6.70% at December 31, 2011
 $986  $29 
Less current installments
  132   29 
Total
 $854  $- 
 
The Company has entered into a note payable for the purchase of certain equipment.  The note is secured by the equipment and payable in monthly installments including interest through May 2019.
 
The Company has a senior secured revolving credit facility in an aggregate principal amount of up to $125,000 subject to certain borrowing capacity limitations, including a limit based on a multiple of earnings before interest, taxes, depreciation and amortization ("EBITDA").  The Company's available borrowing capacity as of June 30, 2012 was $109,157.  Borrowings under the credit facility are secured by substantially all of the Company's assets and bear interest at either the LIBOR rate plus an applicable margin of 1.75% to 2.75% or the highest of the following plus 0.75% to 1.75%, depending in each case upon the total leverage ratio:
 
·
Prime rate,
·
Federal funds rate plus 0.5% or
·
In most circumstances, LIBOR for an interest period of one month plus 1%.
 
The maturity date of the credit facility is September 12, 2016.  The maturity date is subject to acceleration upon breach of the financial covenants (consisting of a maximum total leverage ratio and senior leverage ratio and a minimum fixed charge coverage ratio) and other customary non-financial covenants contained in the credit agreement.  As of June 30, 2012, the Company was in compliance with all of its financial and non-financial covenants.