Note 7 - Intangible Assets

12 Months Ended

Oct. 01, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

(7) 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 October 1, 2022:
Customer relationships	17.1	$	9,870	$	(4,130	)	$	5,740
Developed technology and know-how	20.0		1,800		(729	)		1,071
Non-competition agreements	5.0		400		(364	)		36
		$	12,070	$	(5,223	)	$	6,847
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 $821,000 in 2022, $899,000 in 2021 and $1.0 million in 2020. Amortization expense for the next five years is $756,000 in 2023, $750,000 in 2024, $743,000 in 2025, $752,000 in 2026 and $480,000 in 2027.