Debt (Tables)

6 Months Ended

Jun. 30, 2014

The Third PNC Amendment also amended the Minimum EBITDA covenant in the Facility to require that the Company maintain, on a trailing 12 month basis, tested quarterly, minimum EBITDA for the quarters ending June 30, 2014 through December 31, 2014, as follows:

Period	Amount
Six month period ending June 30, 2014	$	1,123,000
Nine month period ending September 30, 2014	$	1,330,000
Twelve month period ending December 31, 2014	$	802,000

Maturities of long-term debt and capital lease obligations

EBITDA for the six month period ended June 30, 2014 was $1,535,000, which was in compliance with the EBITDA covenant, as amended by the Third PNC Amendment, for the period. The EBITDA was calculated as follows:

	For the six months
	ended June 30, 2014
Net income	$	468,000
add: income tax provision		261,000
Income before income taxes		729,000
add: interest expense		395,000
add: depreciation and amortization		411,000

Earnings before interest, taxes, depreciation, and amortization	$	1,535,000