Note 6 - Intangible Assets

6 Months Ended

Apr. 02, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

(6) Intangible Assets

The primary components of our intangible assets and the related accumulated amortization are as follows:

(In thousands)	Weighted- Average Useful Life (Years)	Gross		Accumulated Amortization			Net Book Value
As of April 2, 2022:
Customer relationships	17.1	$	9,870	$	(3,806	)	$	6,064
Developed technology and know-how	20.0		1,800		(684	)		1,116
Non-competition agreements	5.0		400		(324	)		76
		$	12,070	$	(4,814	)	$	7,256
As of October 2, 2021:
Customer relationships	17.1	$	9,870	$	(3,482	)	$	6,388
Developed technology and know-how	20.0		1,800		(639	)		1,161
Non-competition agreements	5.0		400		(284	)		116
Trade name	2.7		250		(247	)		3
		$	12,320	$	(4,652	)	$	7,668

Amortization expense for intangibles was $204,000 and $236,000 for the three-month periods ended April 2, 2022 and April 3, 2021, respectively, and $412,000 and $472,000 for the six-month periods ended April 2, 2022 and April 3, 2021, respectively. Amortization expense for the next five years is $409,000 in 2022, $756,000 in 2023, $750,000 in 2024, $743,000 in 2025, $752,000 in 2026 and $3.8 million thereafter.