Debt	3 Months Ended
Mar. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt We have a Revolving Credit and Security Agreement with PNC Bank, National Association (“PNC”). Subject to the terms and conditions of the agreement as amended, PNC agreed to provide a senior secured revolving credit financing up to an aggregate principal amount of $34.0 million, which includes up to $10.0 million in letters of credit, subject to a borrowing base formula, lender reserves and PNC’s reasonable discretion. With the 2013 amendment, PNC also provided a senior secured term loan up to an aggregate principal amount of $15.0 million. The loans under the facilities bear interest at either the London Interbank Offered Rate (LIBOR) or an alternative base rate, plus a margin that varies with borrowing availability under the revolving credit facility. These facilities mature on December 11, 2018. The PNC agreement contains various covenants, including limitations on dividends, investments and additional indebtedness and liens, and a minimum fixed charge coverage ratio, which would apply only if average undrawn borrowing availability, as defined by the credit agreement, were to fall below a specified level for more than five business days. We had $2.5 million of additional borrowing capacity under this facility as of March 31, 2015, after giving effect to our fixed charge coverage ratio covenant and our outstanding borrowings and letters of credit under this facility. We are in compliance with all covenants and terms of the agreement at March 31, 2015. At March 31, 2015, our borrowings under the PNC revolving facility totaled $2.6 million and borrowings under the PNC term loan totaled $7.5 million. In addition, we have $6.4 million in outstanding letters of credit. In April 2013, we signed a loan agreement with the Mississippi Development Authority ("MDA") for draws up to $1.5 million at an interest rate of 2.25% and with a maturity date of February 2021. Draws under the agreement were permitted for purchases of certain equipment at our Tupelo, Mississippi location. We received the final draw in the second quarter of 2014. Fixed principal and interest payments started on the loan in the first quarter of 2014 and as of March 31, 2015 we have an outstanding balance of $1.3 million. In the U.S., we also have $0.3 million outstanding in short term borrowings related to financing some of our insurance premiums and $0.5 million outstanding in long term borrowings related to software financing. We have various borrowing arrangements at our foreign subsidiaries to support working capital needs and government sponsored borrowings which provide advantageous lending rates. In Brazil, as of March 31, 2015, we have uncommitted, discretionary line of credit facilities with several local private Brazilian banks (some of which are sponsored by the Brazilian government) for an aggregate maximum availability of $37.7 million, subject to a borrowing base formula computed on a monthly basis. These credit facilities are secured by a portion of our accounts receivable and inventory balances and expire at various times from June 2015 through July 2023. Historically we have been able to enter into replacement facilities when these facilities expire, but such replacements are at the discretion of the banks. Lenders determine, at their discretion, whether to make new advances with respect to each draw on such facilities. There are no restrictive covenants on these credit facilities. Our borrowings in Brazil at March 31, 2015 totaled $23.2 million, with an additional $14.5 million available for borrowing, based on our accounts receivable and inventory levels at that date. In India, we have an aggregate maximum availability of $10.1 million in line of credit facilities which are secured by land, buildings and equipment, inventory and receivables and are subject to a borrowing base formula computed on a monthly basis. The arrangements expire at various times from April 2015 through July 2015. Historically we have been able to enter into replacement facilities when these facilities expire, but such replacements are at the discretion of the banks. Our borrowings under these facilities totaled $7.5 million, and based on our borrowing base as of March 31, 2015, we had $2.6 million available for additional borrowing under these facilities. There are no restrictive covenants on these credit facilities, except that consent must be received from the bank in order to dispose of certain assets located in India. We also have capital lease agreements with an outstanding balance of $1.7 million which are included in our total borrowings balance at March 31, 2015. Our consolidated borrowings totaled $44.6 million at March 31, 2015 and $49.2 million at December 31, 2014. Our weighted average interest rate for these borrowings was 7.6% for the three months ended March 31, 2015 and 8.8% for the three months ended March 31, 2014.

Debt

We have a Revolving Credit and Security Agreement with PNC Bank, National Association (“PNC”). Subject to the terms and conditions of the agreement as amended, PNC agreed to provide a senior secured revolving credit financing up to an aggregate principal amount of $34.0 million, which includes up to $10.0 million in letters of credit, subject to a borrowing base formula, lender reserves and PNC’s reasonable discretion. With the 2013 amendment, PNC also provided a senior secured term loan up to an aggregate principal amount of $15.0 million. The loans under the facilities bear interest at either the London Interbank Offered Rate (LIBOR) or an alternative base rate, plus a margin that varies with borrowing availability under the revolving credit facility. These facilities mature on December 11, 2018.

The PNC agreement contains various covenants, including limitations on dividends, investments and additional indebtedness and liens, and a minimum fixed charge coverage ratio, which would apply only if average undrawn borrowing availability, as defined by the credit agreement, were to fall below a specified level for more than five business days. We had $2.5 million of additional borrowing capacity under this facility as of March 31, 2015, after giving effect to our fixed charge coverage ratio covenant and our outstanding borrowings and letters of credit under this facility. We are in compliance with all covenants and terms of the agreement at March 31, 2015.

At March 31, 2015, our borrowings under the PNC revolving facility totaled $2.6 million and borrowings under the PNC term loan totaled $7.5 million. In addition, we have $6.4 million in outstanding letters of credit.

In April 2013, we signed a loan agreement with the Mississippi Development Authority ("MDA") for draws up to $1.5 million at an interest rate of 2.25% and with a maturity date of February 2021. Draws under the agreement were permitted for purchases of certain equipment at our Tupelo, Mississippi location. We received the final draw in the second quarter of 2014. Fixed principal and interest payments started on the loan in the first quarter of 2014 and as of March 31, 2015 we have an outstanding balance of $1.3 million.

In the U.S., we also have $0.3 million outstanding in short term borrowings related to financing some of our insurance premiums and $0.5 million outstanding in long term borrowings related to software financing.

We have various borrowing arrangements at our foreign subsidiaries to support working capital needs and government sponsored borrowings which provide advantageous lending rates.

In Brazil, as of March 31, 2015, we have uncommitted, discretionary line of credit facilities with several local private Brazilian banks (some of which are sponsored by the Brazilian government) for an aggregate maximum availability of $37.7 million, subject to a borrowing base formula computed on a monthly basis. These credit facilities are secured by a portion of our accounts receivable and inventory balances and expire at various times from June 2015 through July 2023. Historically we have been able to enter into replacement facilities when these facilities expire, but such replacements are at the discretion of the banks. Lenders determine, at their discretion, whether to make new advances with respect to each draw on such facilities. There are no restrictive covenants on these credit facilities. Our borrowings in Brazil at March 31, 2015 totaled $23.2 million, with an additional $14.5 million available for borrowing, based on our accounts receivable and inventory levels at that date.

In India, we have an aggregate maximum availability of $10.1 million in line of credit facilities which are secured by land, buildings and equipment, inventory and receivables and are subject to a borrowing base formula computed on a monthly basis. The arrangements expire at various times from April 2015 through July 2015. Historically we have been able to enter into replacement facilities when these facilities expire, but such replacements are at the discretion of the banks. Our borrowings under these facilities totaled $7.5 million, and based on our borrowing base as of March 31, 2015, we had $2.6 million available for additional borrowing under these facilities. There are no restrictive covenants on these credit facilities, except that consent must be received from the bank in order to dispose of certain assets located in India.

We also have capital lease agreements with an outstanding balance of $1.7 million which are included in our total borrowings balance at March 31, 2015.

Our consolidated borrowings totaled $44.6 million at March 31, 2015 and $49.2 million at December 31, 2014. Our weighted average interest rate for these borrowings was 7.6% for the three months ended March 31, 2015 and 8.8% for the three months ended March 31, 2014.