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Note 7 - Financing Agreements
 6 Months Ended
Oct. 30, 2021
Notes to Financial Statements  
Debt Disclosure [Text Block]

Note 7. Financing Agreements

 

As of October 30, 2021, there were no advances under the loan portion of our line of credit, and the balance of letters of credit outstanding was approximately $8,255. As of October 30, 2021, $26,745 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 October 30, 2021, we had $715 of such instruments outstanding.

 

As of October 30, 2021, we were in compliance with all applicable bank loan covenants.