XML 27 R13.htm IDEA: XBRL DOCUMENT v3.7.0.1
Intangibles
12 Months Ended
Jun. 30, 2017
Intangibles [Abstract]  
Intangibles

6.           Intangibles



Our intangible assets as of June 30, 2017 and 2016 are as follows (in thousands):





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

June 30,

 

 

 

 

 

June 30,

 

 

June 30,

 

 

 

 

 

June 30,



 

 

2017

 

 

 

 

 

2017

 

 

2016

 

 

 

 

 

2016



 

 

Gross

 

 

 

 

 

Net

 

 

Gross

 

 

 

 

 

Net



 

 

Carrying

 

 

Accumulated

 

 

Carrying

 

 

Carrying

 

 

Accumulated

 

 

Carrying



 

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amount

 

 

Amortization

 

 

Amount

Customer/Distributor Relationships

 

$

3,263 

 

$

(1,524)

 

$

1,739 

 

$

3,170 

 

$

(847)

 

$

2,323 

Trade Name

 

 

2,533 

 

 

(591)

 

 

1,942 

 

 

2,461 

 

 

(328)

 

 

2,133 

Software

 

 

677 

 

 

(312)

 

 

365 

 

 

676 

 

 

(181)

 

 

495 

Other

 

 

121 

 

 

(94)

 

 

27 

 

 

118 

 

 

(52)

 

 

66 

Total

 

$

6,594 

 

$

(2,521)

 

$

4,073 

 

$

6,425 

 

$

(1,408)

 

$

5,017 



Amortization expense for the fiscal years ended June 30, 2017, 2016 and 2015 was $1,073,000,  $1,121,000 and $328,000, respectively.  The change in the gross carrying value of $169,000 is due to changes in foreign currency rates from June 30, 2016 to June 30, 2017. During the third quarter of fiscal 2016, we determined that one of our product lines was not viable in the market.  As a result of this determination, the unamortized software development costs associated with this product line was written off in the amount of $694,000 and included in “Severance, Impairment and Other Charges” on our Consolidated Statement of Operations (see Note 10 for further discussion).



The estimated amortization of the remaining intangible assets by year is as follows (in thousands): 









 

 



 

 

Years Ending June 30,

Amount

2018

 

1,107 

2019

 

1,096 

2020

 

688 

2021

 

253 

2022

 

253 

after 2022

 

676 



$

4,073 



 

 

Collectively, the weighted average amortization period of intangible assets subject to amortization is approximately 3.7 years.  The intangible assets are amortized over the period of economic benefit or on a straight line basis.