Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2012

Goodwill And Intangible Assets [Abstract]

GOODWILL AND INTANGIBLE ASSETS

7. GOODWILL AND INTANGIBLE ASSETS:

There has been no change in the Company’s recorded goodwill balance during the three- or six- month periods ended June 30, 2012 or 2011. Our annual goodwill and intangible assets measurement date is December 2.

We amortize our intangible assets that have finite lives using either the straight-line method or based on estimated future cash flows to approximate the pattern in which the economic benefit of the asset will be utilized. Amortization expense was $241 thousand and $482 thousand during the three-and six- month periods ended June 30, 2012, respectively. Amortization expense was $486 thousand and $975 thousand during the three- and six-month periods ended June 30, 2011, respectively. This amortization expense relates to certain non-competition covenants, trade names and customer lists, which expire between 2012 and 2016.

The Company recorded amortization from capitalized internally developed software (reported as part of our software expense) of $25 thousand and $42 thousand during the three-and six- month periods ended June 30, 2012, respectively. The Company recorded amortization from capitalized internally developed software (reported as part of our software expense) of $13 thousand during the three- and six-month periods ended June 30, 2011.

Estimated annual amortization expense (including amortization expense associated with capitalized software costs) for the current year and the following four years ending December 31, is as follows:

	Amortization Expense
	(In Thousands)
2012	$	1,055
2013	$	531
2014	$	378
2015	$	115
2016	$	—