6. GOODWILL

Goodwill

The changes in the carrying amount of goodwill for the fiscal years ended January 31, 2013, and 2012 were as follows:

	Gross Carrying			Accumulated
	Amount			Impairment			Goodwill, Net
	(in thousands)
Balance at January 31, 2011	$	22,065		$	(15,608	)	$	6,457
Impact of foreign currency translation		(45	)		—			(45	)
Balance at January 31, 2012		22,020			(15,608	)		6,412
Impact of foreign currency translation		313			—			313
DynaSys acquisition		2,231			—			2,231
CEBOS acquisition		2,456			—			2,456
Balance at January 31, 2013	$	27,020		$	(15,608	)	$	11,412

During each of the fourth quarters of fiscal 2013, 2012 and 2011, an impairment analysis was performed at the enterprise level which compared the Company's market capitalization to its net assets as of the test date, November 30. As the market capitalization substantially exceeded the Company's net assets, there was no indication of goodwill impairment for fiscal 2013, 2012 and 2011.

Intangible Assets

	January 31,			January 31,
	2013			2012
	(in thousands)

Amortizable intangible assets
Customer relationships (1)	$	3,049		$	—
Trade name (1)		532			—
		3,581			—
Less: accumulated amortization		(279	)		—
Net amortizable intangible assets	$	3,302		$	—

______________________

(1)

Customer relationships and trade name include the impact of foreign currency translation.

The Company's intangible assets as of January 31, 2013 are related to the DynaSys and CEBOS acquisitions completed in fiscal 2013. Intangible assets are included in "Other assets, net" in the accompanying Consolidated Balance Sheets. As of January 31, 2013, all of the Company's intangible assets were determined to have finite useful lives, and therefore were subject to amortization.

Amortization of intangible assets was $264,000, $14,000 and $55,000 for the fiscal years 2013, 2012 and 2011 respectively. The following table summarizes the estimated amortization expense relating to the Company's intangible assets as of January 31, 2013:

Fiscal Years	(in thousands)
2014	$	716
2015		716
2016		716
2017		716
2018		438
	$	3,302