Property, Equipment, and Related Depreciation and Amortization

3 Months Ended

Jun. 30, 2013

Property Plant And Equipment [Abstract]

Property, Equipment, and Related Depreciation and Amortization

NOTE 5.

Property, Equipment, and Related Depreciation and Amortization

Property and equipment are recorded at cost, and equipment is depreciated on a straight-line basis over its estimated economic useful life. Leasehold improvements are amortized using the shorter of the estimated economic useful life or the term of the lease. Depreciation and amortization expense for the three month periods ended June 30, 2013 and June 30, 2012 was $331 and $338, respectively.

Average estimated useful lives for property are as follows:


Machinery and equipment		3 to 10 years
Furniture and fixtures		3 to 10 years
Computer hardware and software		3 to 5 years
Leasehold improvements		10 years

The Company classified as real estate held for sale on the condensed consolidated balance sheets a property owned in Glen Head, New York that is subject to a sales agreement. The closing of the sale agreement for the property is subject to the buyer receiving development approvals and the Company completing environmental obligations and reviews. Presently, the Company anticipates that the net sale proceeds will be $3,800. See Note 14 for a discussion of environmental matters related to this site.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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