| Schedule of notes payable and long-term debt |
Notes payable and long-term debt consisted of
the following:
| |
|
December 31, 2013 |
|
| |
|
2013 |
|
|
2012 |
|
| |
|
(in thousands) |
|
| Term loan with a U.S. bank with monthly payments of principal and interest at prime plus 1.125% (floor rate: 4.375%), maturing May 3, 2014 |
|
$ |
– |
|
|
$ |
141 |
|
| Term loan with a U.S. bank with monthly payments of principal and interest at prime plus 0.75% (floor rate: 4%), maturing November 15, 2014 |
|
|
3,076 |
|
|
|
3,181 |
|
| Revolving line of credit with a U.S. bank up to $7,000 with interest at prime plus 0.5% (floor rate: 3.75%), maturing November 15, 2015 |
|
|
7,000 |
|
|
|
8,637 |
|
| Term loan with a U.S. bank with monthly payments of principal and interest at prime plus 0.75% (floor rate: 4.00%), maturing September 10, 2017 |
|
|
1,850 |
|
|
|
– |
|
| Revolving line of credit with a China bank up to $12,000 with interest at 108%-110% of China Prime rate which ranged from 6.48% to 6.60% in 2013 with various maturity dates from January 2014 to August 2014 |
|
|
7,053 |
|
|
|
10,668 |
|
| Revolving line of credit with a China bank up to $3,280 with interest ranged from 4.10% to 4.15% with various maturity dates from January 2014 to March 2014 |
|
|
2,413 |
|
|
|
– |
|
| Note payable to a finance company due in monthly installments with 9% interest, maturing October 31, 2013 |
|
|
– |
|
|
|
38 |
|
| Revolving line of credit with a Taiwan bank up to $4,000 with interest at Taiwan Time Deposit Interest Rate Index plus 0.41% or LIBOR plus 1.28% maturing in December 2014 |
|
|
3,795 |
|
|
|
– |
|
| Note payable to a finance company due in monthly installments with 4.95% interest, maturing July 30, 2015 |
|
|
921 |
|
|
|
398 |
|
| Total |
|
|
26,108 |
|
|
|
23,063 |
|
| Less current portion |
|
|
17,185 |
|
|
|
13,900 |
|
| Long term portion |
|
$ |
8,923 |
|
|
$ |
9,163 |
|
| Bank Acceptance Payable |
|
|
|
|
|
|
|
|
| Bank acceptance notes issued to vendors with a zero percent interest rate, a 30% guarantee deposit of $741, and maturity dates ranging from January 2014 to June 2014 |
|
|
2,347 |
|
|
|
1,521 |
|
|