Note P - Long-term Debt

3 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE P – LONG-TERM DEBT

Long-term debt consists of the following (in thousands):

	June 30, 2024			March 31, 2024
6.625% Senior Secured Notes due 2025	$	60,000		$	60,000
Less: unamortized debt issuance costs		(369	)		(438	)
Long-term debt, net	$	59,631		$	59,562

Subsequent to the quarter ending June 30, 2024, on July 10, 2024, the Company entered into a new five-year unsecured Credit Agreement with Citibank, N.A., (the “Credit Agreement”) that includes a term loan facility and revolving credit facility and used $60,000 of term loan borrowings under the Credit Agreement to refinance and redeem its outstanding Senior Secured Notes due 2025. The transaction did not add any additional new debt to the Company’s Consolidated Balance Sheet. See NOTE T – SUBSEQUENT EVENTS in the accompanying consolidated financial statements for additional information on the Credit Agreement.