Goodwill And Intangible Assets

12 Months Ended

Sep. 30, 2011

Goodwill And Intangible Assets [Abstract]

Goodwill And Intangible Assets

4. Goodwill and Intangible Assets

The Company's goodwill and intangible assets by major asset class subject to amortization as of September 30, 2011 consist of:

	Estimated Useful Life	Original Cost		Accumulated Amortization		Net Book Value
Intangible assets:
Trade name	10 years	$	900	$	73	$	827
Non-compete agreement	5 years		500		81		419
Below market lease	5 years		900		145		755
Customer relationships	10 years		6,800		548		6,252
Order backlog	1 year		1,300		1,047		253
Transition services agreement	< 1 year		23		23		0
Total intangible assets		$	10,423	$	1,917	$	8,506

Amortization expense associated with the indentified intangible assets is expected to be as follows:

	Amortization Expense
Fiscal year 2012	$	1,302
Fiscal year 2013		1,050
Fiscal year 2014		1,050
Fiscal year 2015		1,050
Fiscal year 2016		824

The Company's goodwill is related to the acquisition of the business and related assets of T&W Forge, Inc. in fiscal 2011 and all of it is deductible for tax purposes. Goodwill is not amortized, but is subject to an annual impairment test. The Company tests its goodwill for impairment in the fourth fiscal quarter, and in interim periods if certain events occur indicating that the carrying amount of goodwill may be impaired. The Company initially assessed qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value, including goodwill. Through the Company's assessment of its earnings performance, cash flow, growth in relation to industry statistics, and other factors, the Company determined that it is not more likely than not that the fair value of its reporting units is less than its carrying amount and, accordingly, the first and second steps of the goodwill impairment test are not required. The Company concluded that no impairment exists as of September 30, 2011.