Note 9 - Debt and Other Financing Arrangements |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Text Block] |
On March 20, 2014, the Company entered into an equipment financing arrangement (“Loan Agreement”) with Banc of America Leasing & Capital, which it amended on August 8, 2014, September 15, 2015 and October 30, 2017. The terms of the arrangement are detailed in the 10 -K.The weighted average interest rate on outstanding debt under the Loan Agreement was 3.8% and 3.6% for the three months and six months ended June 30, 2018, respectively. The interest expense was $28 thousand and $56 thousand for the three months and six months ended June 30, 2018, respectively. As of June 30, 2018, the interest rate was 3.9% and there was $2.9 million of outstanding debt related under the loan agreement. The Company was in compliance with all loan covenants as of June 30, 2018. The annual principal repayment requirements for debt obligations as of June 30, 2018 were as follows (in 000’s ):
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