Property, Plant and Equipment

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

	March 31,			December 31,
	2018			2017
	($000's ommitted)
Land	$	7		$	7
Buildings		10,293			10,288
Machinery, equipment and tooling		17,373			17,249
Construction in progress		1,030			665
		28,703			28,209
Less accumulated depreciation		(17,416	)		(17,188	)
	$	11,287		$	11,021

As previously disclosed, on March 9, 2017 the Company through a wholly-owned subsidiary, sold certain unused commercial real property in Franklinville, New York for approximately $180,000. The wholly-owned subsidiary recognized a de minimis loss on the sale.

Property, plant and equipment includes land and the facility in Elma, New York. Accumulated depreciation as of March 31, 2018 and December 31, 2017, on the building amounted to approximately $3,515,000 and $3,483,000, respectively.

Depreciation and amortization expense amounted to approximately $244,000 and $210,000 for the three months ended March 31, 2018 and 2017, respectively. The Company believes that it maintains property and casualty insurance in amounts adequate for the risk and nature of its assets and operations and which are generally customary in its industry.

As of March 31, 2018, there is approximately $1,030,000 ($665,000 – December 31, 2017) of construction in progress included in property, plant and equipment primarily related to capital projects at the Advanced Technology Group (“ATG”), including the equipment covered under the equipment financing agreement. See Note 7, Commitments and Contingencies, for more information on anticipated capital expenditures.