Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill

v2.4.0.6
Intangible Assets and Goodwill
3 Months Ended
Mar. 31, 2012
Intangible Assets and Goodwill [Abstract]  
INTANGIBLE ASSETS AND GOODWILL

NOTE 6 – INTANGIBLE ASSETS AND GOODWILL

The Company conducted its annual impairment test of intangible assets and goodwill as of June 30, 2011, and determined that there was no impairment. The Company also tests its intangible assets and goodwill between the annual impairment test if events occur or circumstances change that would more likely than not reduce the fair value of the Company or its assets below their carrying amounts. No events have occurred since June 30, 2011, that would trigger further impairment testing of the Company’s intangible assets and goodwill.

Amortization expense for the three months ended March 31, 2012 and March 31, 2011 totaled $33,000 and $33,000, respectively. Other intangible assets consist of an acquired customer list and a non-compete agreement.

The following table presents details of the Company’s intangible assets, related accumulated amortization and goodwill (in thousands):

 

                                                                 
    As of March 31, 2012     As of December 31, 2011  
    Gross     Accumulated
Amortization
    Impairment     Net     Gross     Accumulated
Amortization
    Impairment     Net  

Patents (4-10 years)

  $ 1,914     $ (1,735   $ —       $ 179     $ 1,914     $ (1,702   $ —       $ 212  

Trademarks (6 years)

    69       (69     —         —         69       (69     —         —    

Other (4 to 6 years)

    593       (593     —         —         593       (593     —         —    
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 2,576     $ (2,397   $ —       $ 179     $ 2,576     $ (2,364   $ —       $ 212  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Goodwill (Indefinite life)

  $ 2,926                     $ 2,926     $ 2,926                     $ 2,926