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Note 7 - Financing Agreements
 3 Months Ended
Jul. 31, 2021
Notes to Financial Statements  
Debt Disclosure [Text Block]

Note 7. Financing Agreements

 

As of July 31, 2021, there were no advances under the loan portion of the line of credit, and the balance of letters of credit outstanding was approximately $8,142. As of July 31, 2021, $26,858 of the credit facility remains in place and available.

 

We are sometimes required to obtain bank guarantees or other financial instruments for display installations. If we are unable to meet the terms of the arrangement, our customer would draw on the banking arrangement, and the bank would subrogate its loss to Daktronics. As of July 31, 2021, we had $2,514 of such instruments outstanding.

 

As of July 31, 2021, we were in compliance with all applicable bank loan covenants.