Other Intangible Assets

12 Months Ended

Jun. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

Note 6 — Other Intangible Assets

Other intangible assets at June 30 consist of the following:

	Useful Life	2013		2012
Trade names	Indefinite	$	1,425,000	$	1,425,000
License	5.5 years		570,000		570,000
Non-compete agreements	6 years		647,000		647,000
Technology	6 – 15 years		6,170,000		6,170,000
Customer & distributor relationships	7 years		1,400,000		1,400,000
Other	n.a.		100,000		64,000
			10,312,000		10,276,000
Less accumulated amortization			(3,345,000)		(2,374,000)
		$	6,967,000	$	7,902,000

Other intangible assets consist mainly of intangible assets acquired in the purchases of RTS ($1,712,000 on July 1, 2007) and SBX ($8,500,000 on January 1, 2011). The major portion of these assets ($8,787,000) is being amortized using the straight-line method. Intangible asset amortization for fiscal years 2013 and 2012 amounted to $971,000 and $1,023,000, respectively. A summary of the estimated amortization expense for the next five years is as follows:

Fiscal years ended June 30,
2014	$	812,000
2015	$	812,000
2016	$	812,000
2017	$	639,000
2018	$	367,000

Refer to Notes 1 and 2 to Consolidated Financial Statements for additional information concerning other intangible assets.