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Other Intangible Assets
 3 Months Ended
Apr. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Other Intangible Assets

NOTE 7 – OTHER INTANGIBLE ASSETS

The Company’s intangible assets, other than goodwill, consisted of the following amounts at April 30 and January 31, 2015:

 

          April 30, 2015      January 31,  
     Estimated
Useful
Life		    Gross
Carrying
Amount		      Accumulated
Amortization		      Net
Amount		      2015
Net
Amount		  

Trade name - GPS

    15 years    $ 3,643,000       $ 2,039,000       $ 1,604,000       $ 1,664,000   

Trade name - SMC

    Indefinite      181,000         —           181,000         181,000   
     

 

 

     

 

 

     

 

 

     

 

 

  

Intangible assets, net

 $ 3,824,000    $ 2,039,000    $ 1,785,000    $ 1,845,000   
     

 

 

     

 

 

     

 

 

     

 

 

  

Amortization expense was $60,000 for both the three month periods ended April 30, 2015 and 2014. No impairment losses have been recorded related to any of the intangible assets associated with the acquisition of GPS that occurred in December 2006.