Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v2.4.0.6
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2012
Long-Term Debt [Abstract]  
Schedule of long-term debt, net of current portion
 
2012
    
2011
  
Long-term debt, net of current portion:
            
Term loan agreement, $50.0 million on June 29, 2012, funding on October 1, 2012, maturing October 1, 2015, interest greater of elected LIBOR, or 1.0%, plus margin [4.00%-4.75%], LIBOR rate elections can be made based on a 30 day, 60 day, 90 day or six-month LIBOR and margins are adjusted quarterly. (4.75% during the quarter and year ended December  31, 2012)
   $        48,750     $        --  
Term loan agreement, $20.0 million on October 1, 2012, maturing October 1, 2016, interest rate is fixed at 13.25% per annum. (13.25% during the quarter and year ended December  31, 2012) 
       20,000         --  
Term loan agreement, $33.0 million on October 29, 2010, scheduled maturity June 30, 2016, interest greater of 1 month LIBOR, or 1.5%, plus margin [4.5%-5.5%], LIBOR rates and margins are adjusted quarterly. (7.0% during the quarter and year ended December  31, 2011)
           --             26,400  
Swap agreement, $20.0 million on January 7, 2011, effective April 1, 2011, scheduled maturity April 1, 2016, interest received based on 1 month LIBOR, and paid at a fixed rate of 1.9% through August 31, 2011.  The Swap was re-designated in September 2011 with interest to be received at the greater of 1.5% or 1 month LIBOR, and paid at a fixed rate of 3.06% until maturity. (average net settlement rates during the quarter and year ended December 31, 2011 were 1.56% and 1.62%, respectively)
                 --                   537  
Less current portion
     ( 2,500 )     ( 4,950 )
    $ 66,250     $ 21,987  
 
Schedule of maturities of long-term debt
 
       
2013
   $ 2,500  
2014
     5,000  
2015
     41,250  
2016
     20,000  
    $ 68,750