Quarterly report pursuant to Section 13 or 15(d)

Debt and Credit Arrangements (Tables)

v2.4.0.8
Debt and Credit Arrangements (Tables)
3 Months Ended
Mar. 31, 2014
Debt and Credit Arrangements [Abstract]  
Components of long-term debt

 

March 31, 2014

December 31, 2013

Term loan $50 million, interest at LIBOR plus 1.75%, due September 30, 2018 with term loan principle repayable in quarterly installments of $2.5 million

$32,500

$37,500

Term loan $2.9 million Canadian (“CAD”), interest at cost of funds plus 2.5%, due September 15, 2014 with principle repayable in monthly installments of $16,000 until August 15, 2014 and one final payment of $404,000 collateralized by a first lien on company owned land and building

437

517

Total

32,937

38,017

Less: current portion of long-term debt

(10,437)

(10,517)

Total long-term debt

$22,500

$27,500

 

Maturities of long-term debt

Maturities of long-term debt as of March 31, 2014 are as follows (in thousands):

 

 

 

Nine months ended December 31, 2014

$

 

7,937

2015

 

 

10,000

2016

 

 

10,000

2017

 

 

5,000

Total Total long-term debt

$

 

32,937