Note 9 - Intangible Assets

9 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

9

.

Intangible Assets

Identified intangible assets of our company consisted of the following as of

December

31,

2016

(in thousands):

	December 31, 2016
	Gross Intangible Assets		Accumulated Impairment		Accumulated Amortization		Net Intangible Assets
	(unaudited)
Developed intellectual property	$	17,197	$	265	$	13,481	$	3,451
Customer relationships		13,464		123		13,341		-
In-process research and development expenses		1,056		1,003		53		-
Contract backlog		7,310		-		7,310		-
Other intangible assets		1,588		-		1,461		127
Total identifiable intangible assets	$	40,615	$	1,391	$	35,646	$	3,578

Identified intangible assets of our company consisted of the following as of

March

31,

2016

(in thousands):

	March 31, 2016
	Gross Intangible Assets		Accumulated Impairment		Accumulated Amortization		Net Intangible Assets
	(unaudited)
Developed intellectual property	$	17,309	$	-	$	11,639	$	5,670
Customer relationships		13,520		-		12,961		559
In-process research and development expenses		1,188		-		-		1,188
Contract backlog		7,329		-		7,329		-
Other intangible assets		1,599		-		1,409		190
Total identifiable intangible assets	$	40,945	$	-	$	33,338	$	7,607

We review our intangible assets for impairment whenever events and circumstances indicate that the carrying value of an asset might not be recoverable, based upon estimated undiscounted future cash flows. When we are required to determine the fair value of intangible assets other than goodwill, we use the income approach. We start with a forecast of all the expected net cash flows associated with the asset and then we apply an asset-specific discount rate to arrive at a net present value amount. Some of the more significant estimates and assumptions inherent in this approach include: the amount and timing of the projected net cash flows on the projections and the selection of a long-term growth rate and the discount rate. Based on our review, the intangible assets resulting from the RadioPulse acquisition were determined to be fully impaired and an impairment charge of

$1.4

million was recognized during the quarter ended

December

31,

2016.