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Note 3 - Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]

 
(3)  GOODWILL AND INTANGIBLE ASSETS


Goodwill and intangible assets on our balance sheets are the result of our acquisitions of Sigma Systems Corp. ("Sigma") in October 2008 and Thermonics, Inc. ("Thermonics"), a division of Test Enterprises, Inc. in January 2012.

Goodwill

All of our goodwill is allocated to our Thermal Products segment. There was no change in the amount of the carrying value of goodwill for the three months ended March 31, 2014.


Intangible Assets

The following tables provide further detail about our intangible assets as of March 31, 2014 and December 31, 2013:


 

March 31, 2014

 

Gross
Carrying
Amount


Accumulated Amortization

Net
Carrying
Amount

Finite-lived intangible assets:

                       

Customer relationships

  $ 1,480     $ 793     $ 687  

Patented technology

    590       317       273  

Software

    270       148       122  

Trade name

    140       77       63  

Customer backlog

    70       70       -  

Non-compete/non-solicitation agreement

    48       48       -  

Total finite-lived intangible assets

    2,598       1,453       1,145  

Indefinite-lived intangible assets:

                       

Sigma trademark

    510       -       510  

Total intangible assets

  $ 3,108     $ 1,453     $ 1,655  

 

December 31, 2013

 

Gross

Carrying Amount


Accumulated Amortization

Net

Carrying Amount

Finite-lived intangible assets:

                       

Customer relationships

  $ 1,480     $ 725     $ 755  

Patented technology

    590       307       283  

Software

    270       142       128  

Trade name

    140       68       72  

Customer backlog

    70       70       -  

Non-compete/non-solicitation agreement

    48       48       -  

Total finite-lived intangible assets

    2,598       1,360       1,238  

Indefinite-lived intangible assets:

                       

Sigma trademark

    510       -       510  

Total intangible assets

  $ 3,108     $ 1,360     $ 1,748  

We generally amortize our finite-lived intangible assets over their estimated useful lives on a straightline basis, unless an alternate amortization method can be reliably determined. Any such alternate amortization method would be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. None of our intangible assets have any residual value.

The following table sets forth changes in the amount of the carrying value of intangible assets for the three months ended March 31, 2014:


Balance - January 1, 2014

  $ 1,748  
         

Amortization

    (93 )
         

Balance - March 31, 2014

  $ 1,655  

Total amortization expense for the three months ended March 31, 2014 and 2013 was $93 and $115, respectively. The following table sets forth the estimated annual amortization expense for our finite-lived intangible assets for each of the next five years:


2014 (remainder)

  $ 262  

2015

  $ 289  

2016

  $ 229  

2017

  $ 212  

2018

  $ 65