XML 20 R9.htm IDEA: XBRL DOCUMENT

CREDIT FACILITY	12 Months Ended
Dec. 31, 2011
Notes to Financial Statements
CREDIT FACILITY	The Company has a credit and security agreement with Wells Fargo Bank, National Association which expires December 31, 2013. The agreement includes a $15.0 million asset-based revolving line of credit with a stated interest rate at December 31, 2011 of LIBOR plus 3.75% (4.05%). There is an annual minimum interest charge of $100 thousand under the agreement. Amounts due under the credit facility are secured by a first security interest in essentially all of the Company's assets. Under the agreement, the Company is required to comply with certain financial and non-financial covenants. Among the financial covenants are requirements for monthly minimum capital, quarterly minimum net income and monthly minimum liquidity. The amount available for borrowings under the line of credit varies based upon available cash, eligible accounts receivable and eligible inventory. As of December 31, 2011, there were no borrowings outstanding and there was approximately $8.7 million available capacity for additional borrowings under the line of credit agreement.

CREDIT FACILITY

12 Months Ended

Dec. 31, 2011

The Company has a credit and security agreement with Wells Fargo Bank, National Association which expires December 31, 2013. The agreement includes a $15.0 million asset-based revolving line of credit with a stated interest rate at December 31, 2011 of LIBOR plus 3.75% (4.05%). There is an annual minimum interest charge of $100 thousand under the agreement. Amounts due under the credit facility are secured by a first security interest in essentially all of the Company's assets. Under the agreement, the Company is required to comply with certain financial and non-financial covenants. Among the financial covenants are requirements for monthly minimum capital, quarterly minimum net income and monthly minimum liquidity. The amount available for borrowings under the line of credit varies based upon available cash, eligible accounts receivable and eligible inventory. As of December 31, 2011, there were no borrowings outstanding and there was approximately $8.7 million available capacity for additional borrowings under the line of credit agreement.