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LINE OF CREDIT
6 Months Ended
Jun. 29, 2019
Line of Credit Facility [Abstract]  
LINE OF CREDIT

NOTE 6 — LINE OF CREDIT

The Company has a $40 million revolving line of credit with a bank. This facility is renewable annually and terminates on August 31, 2019. Borrowings under this facility bear interest at the one-month LIBOR rate (2.403% at June 29, 2019) plus 150 basis points. The Company is charged one-quarter of a percent (0.25%) per year on the unused portion. At June 29, 2019 and December 31, 2018, the Company was in compliance with the terms and covenants of the credit facility, which remains unused.