GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Oct. 29, 2011

GOODWILL AND INTANGIBLE ASSETS [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND INTANGIBLE ASSETS

We review our goodwill and other intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable, and we also review our goodwill and indefinite-lived assets annually in accordance with ASC No. 350, “Intangibles — Goodwill and Other”. The values assigned to goodwill and intangible assets are normally based on estimates and judgments regarding expectations for the success and life cycle of products and technologies acquired. A severe decline in expectations could result in significant impairment charges, which could have a material adverse effect on our financial condition and results of operations.

Based on general business declines in the white-goods market in the U.S., we performed “step one” of the goodwill impairment test as of October 29, 2011 on our TouchSensor Technologies reporting unit within our Interconnect segment. TouchSensor had $11,146 of goodwill on the books as of October 29, 2011. We used an income approach to estimate the fair value of our reporting unit. Based on this test, we determined that the fair value was more than the carrying value of the net assets. Based on the results, management concluded that there was no impairment as of October 29, 2011.

The following tables present details of the Company’s intangible assets:



	As of October 29, 2011
							Wtd. Avg.
							Remaining
			Accumulated				Amortization
	Gross		Amortization		Net		Periods (Years)
Customer relationships and agreements	$	14,995	$	13,578	$	1,417	12.2
Trade names, patents and technology licenses	25,774		9,682		16,092		12.1
Covenants not to compete	480		456		24		0.3
Total	$	41,249	$	23,716	$	17,533



	As of April 30, 2011
							Wtd. Avg.
							Remaining
			Accumulated				Amortization
	Gross		Amortization		Net		Periods (Years)
Customer relationships and agreements	$	14,995	$	13,417	$	1,578	12.7
Trade names, patents and technology licenses	25,774		8,978		16,796		12.4
Covenants not to compete	480		431		49		0.8
Total	$	41,249	$	22,826	$	18,423

The estimated aggregate amortization expense for the current fiscal year and each of the four succeeding fiscal years is as follows:



2012	$1,804
2013	1,525
2014	1,481
2015	1,469
2016	1,317

As of October 29, 2011 and April 30, 2011, the trade names, patents and technology licenses include $1,800 of trade names that are not subject to amortization.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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