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Credit Arrangements
3 Months Ended
Sep. 30, 2017
Credit Arrangements [Abstract]  
Credit Arrangements



4.   CREDIT ARRANGEMENTS



The Company maintains  an unsecured credit agreement that provides  short-term working capital financing up to $10.0 million with interest of LIBOR plus 1% (2.23% at September 30, 2017), including up to $4.0 million of letters of credit.  Letters of credit outstanding at September 30, 2017 totaled $1.3 million. Other than the outstanding letters of credit, the Company did not utilize borrowing availability under the credit facility, leaving borrowing availability of $8.7 million as of September 30, 2017.  The credit agreement expires June 30, 2018.  At September 30, 2017, the Company was in compliance with all of the financial covenants contained in the credit agreement.



The Company maintains an additional unsecured $10.0 million line of credit, with interest at prime minus 2%  (2.25% at September 30, 2017).  No amount was outstanding on the line of credit at September 30, 2017. This line of credit matures December 31, 2017.