Line Of Credit And Commercial Letters Of Credit

12 Months Ended

Dec. 31, 2012

Line of Credit And Commercial Letters Of Credit [Abstract]

Line Of Credit And Commercial Letters Of Credit

O.   LINE OF CREDIT AND COMMERCIAL LETTERS OF CREDIT

The Company maintains an unsecured line of credit for short term operating cash needs. The line of credit is renewed each year at the end of the third quarter. As of December 31, 2012 and 2011, the line of credit limit was set at $5,000,000, with $0 outstanding on both dates. The interest rate on the line of credit is reset monthly to the London Inter-Bank Offered Rate (LIBOR) plus one half of one percent.  In addition, the Company had issued commercial letters of credit totaling $3,380,000 and $1,940,000 as of December 31, 2012 and 2011, respectively, related to performance on certain customer contracts.  As of December 31, 2012, the entire balance of the letters of credit was unused.