Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT (Tables)

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LONG-TERM DEBT (Tables)
 3 Months Ended
Mar. 31, 2013
Debt Disclosure [Abstract]  
Schedule of long-term debt, net of current portion
 
2013
2012
Long-term debt, net of current portion:
Term loan agreement, $50.0 million on June 29, 2012, funded 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 ended March 31, 2013 and year ended December 31, 2012).
 $ 48,750 $ 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.
20,000 20,000
Less current portion
 ( 5,000 ) ( 2,500 )
$ 63,750 $ 66,250