NOTE 9. INTANGIBLE ASSETS, NET

Intangible assets, net, at March 31, 2015 and 2014 consisted of the following (in thousands):

	Balance, March 31, 2015
	Cost		Accumulated Amortization		Net Book Value
Customer relationships	$	1,535	$	57	$	1,478
Tradename		16		3		13
Total intangible assets	$	1,551	$	60	$	1,491

	Balance, March 31, 2014
	Cost		Accumulated Amortization		Net Book Value
Licenses	$	5,000	$	3,800	$	1,200
Total intangible assets	$	5,000	$	3,800	$	1,200

In November 2014, in connection with our acquisition of 100% of the outstanding stock of QCR and Trio, both based in the United Kingdom, we acquired intangible assets related to customer relationships and tradename, which are amortized on a straight-line basis over its useful lives of ten years and two years, respectively.

In January 2009, we entered into a license agreement with Inverness Medical Switzerland GmbH (“Alere”), pursuant to which we licensed co-exclusively certain worldwide patent rights. We paid a $5.0 million up-front license fee to Alere in January 2009, which was recorded as an intangible asset on the consolidated balance sheets. The related intangible asset was fully amortized during the fourth quarter of fiscal 2015. Effective February 2015, we terminated our license agreement with Alere.

In connection with the sale of the assets of our AVRL business in March 2015, we determined that our other intangible assets were impaired and accordingly, we recorded an impairment charge of $0.4 million during the fourth quarter of fiscal 2015. Our other intangible assets were acquired by issuing warrants to Kansas State University Institute for Commercialization (formerly known as National Institute for Strategic Technology Acquisition and Commercialization) in January 2011 and October 2011.

Amortization expense for intangible assets from continuing operations, included in cost of revenues or in the respective operating expense line based on the function and purpose for which it is being used, amounted to $1.2 million, $1.4 million and $0.8 million in fiscal 2015, 2014 and 2013, respectively. Amortization expense for intangible assets from continuing operations from discontinued operations amounted to $0.1 million, $0.1 million and $0.1 million in fiscal 2015, 2014 and 2013, respectively. Based on our intangible assets subject to amortization as of March 31, 2015, the estimated amortization expense for succeeding years is as follows (in thousands):

	Estimated Future Annual Amortization Expense
			Fiscal Year Ending March 31,
	Total		2016		2017		2018		2019		2020		Thereafter
Amortization expense	$	1,491	$	161	$	158	$	154	$	154	$	154	$	710