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Note 7 - Financing Agreements
 9 Months Ended
Jan. 29, 2022
Notes to Financial Statements  
Debt Disclosure [Text Block]

Note 7. Financing Agreements

 

As of January 29, 2022, there were no advances under the loan portion of our line of credit, and the balance of letters of credit outstanding was approximately $4,463. As of January 29, 2022, $30,537 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 January 29, 2022, we had $715 of such instruments outstanding.

 

As of January 29, 2022, we were in compliance with all applicable bank loan covenants.