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Note J - Line of Credit
 3 Months Ended
Mar. 30, 2025
Notes to Financial Statements  
Debt Disclosure [Text Block]

NOTE J – LINE OF CREDIT

 

The Company has maintained an unsecured line of credit for short term operating cash needs of $50,000,000 and $10,000,000 as of March 30, 2025 and December 31, 2024, respectively. There were no amounts outstanding under this line of credit as of March 30, 2025 and December 31, 2024, which expires September 30, 2025. On February 7, 2025, the Company replaced the $10,000,000 line of credit with the $50,000,000 revolving line of credit. The interest rate on the current line of credit resets monthly to the 30-day Secured Overnight Financing Rate (SOFR) plus one-and-one-quarter percent. The interest rate on the previous line of credit reset monthly to the 30-day SOFR plus one percent.  Additionally, the Company had no issued commercial letters of credit as of March 30, 2025 and December 31, 2024.