Note 5 - Intangible Assets

9 Months Ended

Jun. 29, 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 June 29, 2024:
Customer relationships		17.1	$	9,870	$	(5,265	)	$	4,605
Developed technology and know-how		20.0		1,800		(885	)		915
Non-competition agreements		5.0		60		(52	)		8
			$	11,730	$	(6,202	)	$	5,528
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 $188,000 and $187,000 for the three-month periods ended June 29, 2024, and July 1, 2023, respectively, and $562,000 and $569,000 for the nine-month periods ended June 29, 2024, and July 1, 2023, respectively. Amortization expense for the next five years is $188,000 in 2024, $743,000 in 2025, $752,000 in 2026, $480,000 in 2027, $453,000 in 2028 and $2.9 million thereafter.