Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2013

Goodwill And Intangible Assets

Intangible assets consist of the following:


		September 30, 2013						December 31, 2012
	Amortizable Life (years)	Gross Value		Accumulated Amortization		Net Value		Gross Value		Accumulated Amortization		Net Value
		(in thousands)
Finite-lived intangible assets:
Customer relationships ⁽¹⁾	5 to 8	$	3,868	$	3,347	$	521	$	3,868	$	3,078	$	790
Patents ⁽²⁾	5 to 20		1,291		1,211		80		1,285		1,187		98
Developed technology	5 to 6		1,700		1,700		—		1,700		1,700		—
Licensing fees	5 to 10		450		381		69		450		340		110

Total amortized finite-lived intangible assets			7,309		6,639		670		7,303		6,305		998

Indefinite-lived intangible assets:
Trademarks			1,672		—		1,672		1,672		—		1,672

Other intangible assets, net		$	8,981	$	6,639	$	2,342	$	8,975	$	6,305	$	2,670

(1)	On February 27, 2012, the Company purchased certain assets of Astromec, a subsidiary of Pro-Dex. Included in the purchase price is a customer list valued at $168,000. The estimated useful life of the asset is 5 years.

(2)	During 2013 and 2012, the Company’s MTE division capitalized legal fees related to a new patent application. The estimated useful life of the asset is 20 years.

Estimated future amortization expense for intangible assets subject to amortization in each of the next five fiscal years is as follows:


	Amortization Expense (in thousands)
2013	$	440
2014	$	401
2015	$	59
2016	$	40
2017	$	11

Changes in goodwill balances by segment (defined below) are as follows: