Credit Arrangements

9 Months Ended

Mar. 31, 2019

Credit Arrangements [Abstract]

Credit Arrangements

5.   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%(4.49%at March 31, 2019), including up to $4.0 million of letters of credit. Letters of credit outstanding at March 31, 2019 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 March 31, 2019.  The credit agreement expires June 30, 2019. At March 31, 2019, 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%  (3.5% atMarch 31, 2019).  No amount was outstanding on the line of credit at March 31, 2019. This line of credit matures December 31, 2019.