Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.8.0.1
Debt (Tables)
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
Long-term debt consists of the following obligations as of: 
 
(in thousands)
 
March 31,
2018
 
December 31,
2017
 
Credit Agreement – revolver
 
$
12,105
 
$
5,658
 
Bridge Term Loan – term loan payable in quarterly installments of principal, plus interest through 2019
 
 
9,750
 
 
-
 
Credit Agreement – term loan payable in quarterly installments of principal, plus interest through 2021
 
 
16,885
 
 
17,635
 
Capital leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 4.9% to 5.3% through 2022
 
 
4,073
 
 
3,830
 
Total debt
 
 
42,813
 
 
27,123
 
Less - Current portion
 
 
(7,301)
 
 
(6,358)
 
Less - Debt issuance costs
 
 
(324)
 
 
(209)
 
Long-term debt
 
$
35,188
 
$
20,556
 
Senior Leverage ratio covenant [Table Text Block]
The following is a summary of the additional margin and commitment fees payable on the available revolving credit commitment:
 
Level
 
Senior Leverage Ratio
 
Additional Margin for
Base Rate loans
 
Additional Margin for
Libor Rate loans
 
Commitment Fee
 
 
I
 
Greater than or equal to 2.50 to 1.00
 
 
3.00
%
 
4.00
%
 
0.50
%
 
II
 
Less than 2.50 to 1.00, but greater than or equal to 2.00 to 1.00
 
 
2.75
%
 
3.75
%
 
0.50
%
 
III
 
Less than 2.00 to 1.00, but greater than or equal to 1.50 to 1.00
 
 
2.50
%
 
3.50
%
 
0.50
%
 
IV
 
Less than 1.50 to 1.00
 
 
2.25
%
 
3.25
%
 
0.50
%