. CAPITALIZED SOFTWARE COSTS

Capitalized software costs and accumulated amortization at

April 30, 2018

and

January 31, 2018

were as follows:

	April 30, 201 8			January 31, 20 1 8
	(in thousands)
Capitalized software development costs	$	1,480		$	1,516
Less accumulated amortization		(430	)		(526	)
Capitalized software costs, net	$	1,050		$	990

The Company’s capitalized software development costs relate to translations and localizations of QAD Enterprise Applications.

It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during the

first

three

months of fiscal

2019,

$0.2

million of costs and accumulated amortization were removed from the balance sheet.

Amortization of capitalized software costs was

$0.1

million and

$0.2

million for the

three

months ended

April 30, 2018

and

2017,

respectively. Amortization of capitalized software costs is included in cost of license in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

The following table summarizes the estimated future amortization expense relating to the Company’s capitalized software costs as of

April 30, 2018:

Fiscal Years	(in thousands)
2019 remaining	$	360
2020		433
2021		249
2022		8
	$	1,050