NOTE 6.  LONG-TERM DEBT

Long-term debt, net as of March 31, 2012 and December 31, 2011, was as follows:

The long-term debt agreements contain certain restrictive debt covenants that require the Company and its subsidiaries to maintain a minimum trailing twelve month earnings before interest, taxes, depreciation, and amortization (“EBITDA”), a positive amount of asset coverage, a minimum net worth, and a fixed charge coverage ratio.  At March 31, 2012, the Company was in compliance with all associated covenants.  Under the revolving credit facility, the Company had $1,750 and $903 in letters of credit as of March 31, 2012 and December 31, 2011, respectively.