GOODWILL

The changes in the carrying amount of goodwill for the nine months ended October 31, 2011, were as follows:

		Gross Carrying Amount			Accumulated Impairment			Goodwill, Net
	(in thousands)
Balance at January 31, 2011		$	22,065		$	(15,608	)	$	6,457
Impact of foreign currency translation			(25	)		-			(25	)
Balance at October 31, 2011		$	22,040		$	(15,608	)	$	6,432

The Company performed its annual impairment review during the fourth quarter of fiscal 2011. The analysis compared the Company's market capitalization to its net assets as of the test date, November 30, 2010. As the market capitalization significantly exceeded the Company's net assets, there was no indication of goodwill impairment for fiscal 2011. The Company monitors the indicators for goodwill impairment testing between annual tests. No adverse events occurred during the nine months ended October 31, 2011 that would cause the Company to test goodwill for impairment.