Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.4.0.3
Debt (Tables)
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Summary of Revolver Based upon Borrowers' Eligible Accounts Receivable and Inventory

The availability under the Revolver is based upon the Borrowers’ eligible accounts receivable and eligible inventory and is comprised as follows (in thousands):

 

     March 31,
2016
     December 31,
2015
 

Revolver:

     

Gross Availability

   $ 10,000       $ 10,000   

Outstanding Draws

     (3,780      —     

Letter of Credit

     —           (81

Landlord Reserves

     (45      (37
  

 

 

    

 

 

 

Availability on Revolver

   $ 6,175       $ 9,882   
  

 

 

    

 

 

Summary of Future Maturities of Loans and Capital Leases

The Company had approximate future maturities of loans and capital leases as of March 31, 2016 as follows (in thousands):

 

     2016     2017     2018     2019     2020     Total  

Term Loan A (a)

   $ —        $ 3,860      $ 3,860      $ 3,860      $ 9,630      $ 21,210   

Term Loan B

     681        908        1,136        1,136        2,261        6,122   

Unamortized value of the debt issuance costs (b)

     (25     (31     (31     (31     (8     (126

Revolver

     —          —          —          —          3,780        3,780   

Capital Leases

     2,585        2,561        1,361        117        —          6,624   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 3,241      $ 7,298      $ 6,326      $ 5,082      $ 15,663      $ 37,610   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) The Company has prepaid its Term Loan A principal payments due on June 30, 2016, September 30, 2016 and December 31, 2016. Each of these payments is $965, representing a total prepayment of $2,895
(b) Includes the reclassification of the debt issuance costs as a result of the Company adopting ASU 2015-03
Summary of Company's Current and Long-Term Debt (Including Capital Leases)

The following is a breakdown of the Company’s current and long-term debt (including capital leases) as of March 31, 2016 and December 31, 2015 (in thousands):

 

March 31, 2016

   

December 31, 2015

 
     Current
Portion of
Long-Term
Debt
     Long-Term
Debt
    Total          Current
Portion of
Long-Term
Debt
     Long-Term
Debt
    Total  

Term Loans

   $ 1,873       $ 25,459      $ 27,332      Term Loans    $ 1,873       $ 26,651      $ 28,524   

Unamortized value of the debt issuance costs (a)

   $ —         $ (126     (126  

Unamortized value of the debt issuance costs (a)

   $ —         $ (134     (134

Revolver

     —           3,780        3,780      Revolver      —           —          —     

Capital Leases

     3,304         3,320        6,624      Capital Leases      3,187         3,233        6,420   
  

 

 

    

 

 

   

 

 

      

 

 

    

 

 

   

 

 

 

Total

   $ 5,177       $ 32,433      $ 37,610      Total    $ 5,060       $ 29,750      $ 34,810   
  

 

 

    

 

 

   

 

 

      

 

 

    

 

 

   

 

 

 

 

(a) Includes the reclassification of the debt issuance costs as a result of the Company adopting ASU 2015-03