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Long-term debt
6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]  
Long-term debt

Note 8 – Long-term debt:

 

     December 31,
2012
     June 30,
2013
 
     (In thousands)  

Note payable to TIMET Finance Management Company

   $ 18,480      $ 17,980   

Less current maturities

     1,000         1,000   
  

 

 

    

 

 

 

Total long-term debt

   $ 17,480       $ 16,980   
  

 

 

    

 

 

 

The average interest rate on the promissory note payable as of and for the six-month period ended June 30, 2013 was 1.3%. In July 2013, we prepaid the remaining outstanding principal amount of the note, plus accrued interest, without penalty.