IntriCon Amends $12 Million Credit Facilities

IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of miniature and micro-miniature body-worn devices, today announced it has amended its credit facilities with The PrivateBank and Trust Company. Terms of the amendment included, among other things:

• Extending the term of the $8.0 million revolving credit facility, with a subfacility for letters of credit, to mature in August 2014; and
• Increasing the company’s term loan facility to $4.0 million, amortized in quarterly principal installments of $250,000, and an extension of the maturity to August 2014.

The $12 million in credit facilities includes London Interbank Offered Rate (LIBOR) interest rate options at varying rates based on funded debt to EBITDA levels.

Said Mark S. Gorder, president and chief executive officer, “The extended terms and increased borrowing capacity of our amended credit facilities enhance IntriCon’s financial flexibility and strengthen the company in both the short- and long-term. This amendment reinforces The PrivateBank’s commitment to our strategic plan and their belief in our ability to execute our growth initiatives successfully. We’re using the facilities to fund current growth opportunities, expand our low-cost manufacturing footprint and meet anticipated working capital requirements.”

About IntriCon CorporationHeadquartered in Arden Hills, Minn., IntriCon Corporation designs, develops, manufactures and distributes miniature and micro-miniature body-worn devices. The company is focused on three key markets: medical, hearing health, and professional audio communications. IntriCon has facilities in the United States, Asia and Europe. The company’s common stock trades under the symbol “IIN” on the NASDAQ Global Market. For more information about IntriCon, visit www.intricon.com.

Forward-Looking StatementsStatements made in this release and in IntriCon’s other public filings and releases that are not historical facts or that include forward-looking terminology are “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be affected by known and unknown risks, uncertainties and other factors that are beyond IntriCon’s control, and may cause IntriCon’s actual results, performance or achievements to differ materially from the results, performance and achievements expressed or implied in the forward-looking statements. These risks, uncertainties and are detailed from time to time in the company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2010. The company disclaims any intent or obligation to publicly update or revise any forward-looking statements, regardless of whether new information becomes available, future developments occur or otherwise.

Copyright Business Wire 2010