LEASE OBLIGATIONS

12 Months Ended

Dec. 31, 2014

Note 11.

LEASE OBLIGATIONS

The Company has entered into non-cancelable operating leases for real property with original lease terms of up to ten years. In addition, the Company leases manufacturing and data processing equipment under operating leases expiring during the next three years.

In most cases, management expects that in the normal course of business, leases will be renewed or replaced by other leases. Future minimum lease payments as of December 31, 2014 are as follows (amounts in thousands):


2015	$	3,069
2016		2,501
2017		2,464
2018		2,106
2019		-
Thereafter		-
	$	10,140

Rental expense for 2014 and 2013 for operating leases was $3.3 million and $3.4 million, respectively.

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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