GOODWILL AND INTANGIBLES

The following table presents information about the Company’s goodwill and identifiable intangible assets on the dates indicated (in thousands):

	June 30, 201 9							June 30, 201 8
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Goodwill	$	4,668	$	-		$	4,668	$	4,668	$	-		$	4,668
Identifiable intangible assets		19,885		(11,425	)		8,460		18,533		(9,216	)		9,317

Identifiable intangible assets consist of the following (in thousands):

	June 30, 201 9			June 30, 201 8
Non-compete agreements	$	600		$	600
Trademarks and trade names		2,070			2,070
Completed technology		2,358			2,358
Customer relationships		5,580			5,580
Software development		8,952			7,600
Other intangible assets		325			325
Total		19,885			18,533
Accumulated amortization		(11,425	)		(9,216	)
Total net balance	$	8,460		$	9,317

Identifiable intangible assets are being amortized on a straight-line basis over the period of expected economic benefit. Amortization expense was

$2.3

million,

$2.0

million and

$1.7

million for the year ended

June 30, 2019,

2018

and

2017,

respectively.

The estimated aggregate amortization expense for each of the next

five

years, and thereafter, is as follows (in thousands):

Fiscal Year
2020	$	2,005
2021		1,602
2022		1,370
2023		1,016
2024		628
Thereafter		1,839
	$	8,460

Annually, or anytime when events suggest impairment

may

have occurred, the Company assesses the fair value of its goodwill to determine if the carrying amount of the goodwill is greater than the fair value. An impairment charge would be recognized to the extent the recorded goodwill exceeds the implied fair value of goodwill.

The Company performed a quantitative analysis for its

February 1, 2019

annual assessment of goodwill (commonly referred to as “Step One” evaluation) associated with its fiscal

2017

purchase of a private software company. The Company estimated the fair value using an income approach based on the present value of future cash flows. The Company believes this approach yields the most appropriate evidence of fair value.

Under the quantitative analysis, the fair value assessment of the goodwill of this reporting unit exceeded the carrying amount as of

February 1, 2019.

Therefore,

goodwill impairment was determined to exist. If future results significantly vary from current estimates and related projections, the Company

may

be required to record impairment charges.

The Company performed a qualitative analysis for its

October 1, 2018

annual assessment of goodwill (commonly referred to as “Step Zero”) for its Bytewise reporting unit. From a qualitative perspective, in evaluating whether it is more likely than

not

that the fair value of a reporting unit exceeds its carrying amount, relevant events and circumstances are taken into account, with greater weight assigned to events and circumstances that most affect the fair value or the carrying amounts of its assets. Items that were considered included, but were

not

limited to, the following: macroeconomic conditions, industry and market conditions, cost factors, overall financial performance and changes in management or key personnel. After assessing these and other factors the Company determined that it was more likely than

not

that the fair value of this reporting unit exceeded its carrying amount as of

October 1, 2018.

Therefore,

goodwill impairment was determined to exist. If future results significantly vary from current estimates and related projections, the Company

may

be required to record impairment charges.