Revolving Credit Facility

6 Months Ended

Jul. 02, 2011

Revolving Credit Facility

Revolving Credit Facility

9. Revolving Credit Facility

As of July 2, 2011, the Company had $34.5 million of borrowings outstanding under its revolving credit facility.

The Company has $2.9 million of standby letters of credit to satisfy performance guarantee requirements under certain customer contracts.  While these obligations are not normally called, they could be called by the beneficiaries at any time before the expiration date should the Company fail to meet certain contractual requirements.  After deducting outstanding letters of credit, as of July 2, 2011 the Company had $24.7 million available for borrowing in the U.S. and $12.9 million available for borrowing in Canada under the revolving credit agreement.