Annual report pursuant to Section 13 and 15(d)

Note 6 - Debt and Other Financing Arrangements

Note 6 - Debt and Other Financing Arrangements
12 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Debt Disclosure [Text Block]
. Debt and Other Financing Arrangements: 
August 1, 2018,
the Company entered into a new uncollateralized revolving line-of-credit and term loan governed by a Credit Agreement (the Credit Agreement). The Credit Agreement provides for a revolving credit facility of
million, which can be increased by an additional
million subject to certain conditions, and a term loan of
million. Borrowings under the Credit Agreement
be used for working capital and expenditures of the Company and its subsidiaries, including financing permitted acquisitions. Borrowings under the Credit Agreement bear interest at a variable rate. The current outstanding debt is based on the Eurodollar Loans term for which the interest rate is calculated as the sum of LIBOR plus an applicable margin. The applicable margin is determined for the total leverage ratio of the Company and updated on a quarterly basis. The annualized fee for any unused portion of the credit facility is currently
basis points. The Company has recorded
million of our outstanding borrowings under the Credit Agreement as a current liability in our Consolidated Balance sheet, which represents our required quarterly debt payments to be made in fiscal year
The Credit Agreement matures on
August 1, 2023
and contains customary restrictive and financial covenants and customary events of default. At the closing on
August 1, 2018
the company borrowed
million under the term loan and
million under the revolving credit facility. As of
June 30, 2019,
the outstanding balance under the Credit Agreement was