6.  LONG-TERM DEBT

The Company has a revolving line of credit under a credit agreement with PNC Bank, National Association, that provides for up to $300,000 of available credit, available through November 22, 2021. At March 31, 2018, and December 30, 2017, the balance on the revolving line was $0 and $116,000, respectively, with $300,000 and $184,000 of additional credit available, respectively, subject to pro forma compliance with debt covenants.  Interest expense recognized during the three months ended March 31, 2018, and April 1, 2017, totaled $702 and $725, respectively. As of the date of this filing, the Company was in compliance with all debt covenants related to the credit agreement.

The Company entered into a credit agreement with Shinhan Bank that provides a term loan of 1,000,000 Korean won, approximately $932. The proceeds from the term loan will be used to fund the construction of the new production facility in South Korea. The loan matures in March 2020, at which time the full amount will become due. Interest on the loan is charged at a one year variable rate, 2.05% at March 31, 2018.