Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt

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Long-Term Debt
 9 Months Ended
Sep. 30, 2011
Long-Term Debt [Abstract]  
Long-Term Debt

NOTE 6.  LONG-TERM DEBT

 

Long-term debt, net as of September 30, 2011 and December 31, 2010, was as follows:

 

 

 

September 30, 2011

 

December 31, 2010

 

 

 

 

 

 

 

 

 

 

Revolving credit facility

 

 $                      24,948

 

 $                      14,735

5% Senior Subordinated Notes due 2017

 

                         14,749

 

                         14,018

Trademark payable

 

                              580

 

                              706

Capital leases

 

                              196

 

                              305

 

 

                         40,473

 

                         29,764

Less current portion

 

                            (705)

 

                            (308)

 

 

 $                      39,768

 

 $                      29,456

 

 

 

 

 

 

                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 minimum tangible net worth, and a positive amount of asset coverage.  At September 30, 2011, the Company was in compliance with all associated covenants.