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Note J - Line of Credit
 9 Months Ended
Sep. 28, 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 September 28, 2025 and December 31, 2024, respectively. The line of credit expired on September 30, 2025 and was subsequently renewed for an additional one-year period. The outstanding balance as of September 28, 2025 and December 31, 2024 was $36,900,000 and $0, respectively. 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  September 28, 2025 and December 31, 2024.