Note 5 - Intangible Assets

6 Months Ended

Mar. 30, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

(5) 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 March 30, 2024:
Customer relationships		17.1	$	9,870	$	(5,103	)	$	4,767
Developed technology and know-how		20.0		1,800		(863	)		937
Non-competition agreements		5.0		60		(48	)		12
			$	11,730	$	(6,014	)	$	5,716
As of September 30, 2023:
Customer relationships		17.1	$	9,870	$	(4,779	)	$	5,091
Developed technology and know-how		20.0		1,800		(818	)		982
Non-competition agreements		5.0		400		(383	)		17
			$	12,070	$	(5,980	)	$	6,090

Amortization expense for intangibles was $187,000 for each of the three-month periods ended March 30, 2024, and April 1, 2023, and $374,000 and $382,000 for the six-month periods ended March 30, 2024, and April 1, 2023, respectively. Amortization expense for the next five years is $376,000 in 2024, $743,000 in 2025, $752,000 in 2026, $480,000 in 2027, $453,000 in 2028 and $2.9 million thereafter.