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Note 7 - Long-Term Debt
3 Months Ended
Mar. 31, 2012
Long-term Debt [Text Block]
NOTE 7:  LONG-TERM DEBT

On October 22, 2010, we entered into a Second Amended and Restated Credit Agreement (“credit facility”) which  increased our maximum committed borrowing capacity to $300,000 and extended the maturity date of the facility to October 22, 2015.  We used the proceeds from the credit facility to pay the outstanding balance on the former credit facility plus fees and expenses.  The interest rate applicable to borrowings under the credit facility is the agent’s prime rate plus 0.75% to 1.75%, or a LIBOR-based rate ranging from LIBOR plus 1.75% to LIBOR plus 2.75%, based on a grid related to our leverage ratio.  The current interest rate on the credit facility is LIBOR plus 1.75%.  The credit facility is secured by substantially all of our assets located in the United States.  There are no scheduled payments for the credit facility until its maturity period.  At March 31, 2012 and June 30, 2011, long-term debt consisted of borrowings outstanding against the credit facility of $70,139 and $96,921, respectively.

The credit facility contains covenants customary for financing of this type.  The financial covenants include: maximum total leverage ratio of consolidated total debt to consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”), and a minimum consolidated fixed charge coverage ratio.  At March 31, 2012, we were in compliance with the financial covenants under the credit facility.

At March 31, 2012, we had $225,810 borrowing capacity under the credit facility.  The commitment fee on the unused portion of the credit facility is 0.375% per annum.