Quarterly report pursuant to Section 13 or 15(d)

Goodwill And Intangible Assets

v3.5.0.2
Goodwill And Intangible Assets
9 Months Ended
Sep. 30, 2016
Goodwill And Intangible Assets [Abstract]  
Goodwill And Intangible Assets

NOTE 6 –GOODWILL AND INTANGIBLE ASSETS



The changes in the carrying amount of goodwill for the nine months ended September 30, 2016 by segment are as follows: 





 

 

 



 

 

 



 

JDL



 

 

 

January 1, 2016

 

$

1,463,000 



 

 

 

Goodwill acquired

 

 

 -



 

 

 

September 30, 2016

 

$

1,463,000 



 

 

 

Gross goodwill

 

 

1,463,000 

Accumulated impairment loss

 

 

 -

Balance at September 30, 2016

 

$

1,463,000 





The Company’s identifiable intangible assets with finite lives are being amortized over their estimated useful lives and were as follows:





 

 

 

 

 



 

 

 

 

 



 

September 30, 2016



 

Gross Carrying Amount

Accumulated Amortization

Foreign Currency Translation

Net



 

 

 

 

 

Trademarks

 

91,000  (50,000) (16,000) 25,000 

Customer relationships

 

491,000  (202,000) (101,000) 188,000 

Technology

 

229,000  (182,000) (47,000)

 -



 

811,000  (434,000) (164,000) 213,000 







 

 

 

 

 



 

 

 

 

 



 

December 31, 2015



 

Gross Carrying Amount

Accumulated Amortization

Foreign Currency Translation

Net



 

 

 

 

 

Trademarks

 

91,000  (48,000) (8,000) 35,000 

Customer relationships

 

491,000  (197,000) (46,000) 248,000 

Technology

 

229,000  (183,000) (22,000) 24,000 



 

811,000  (428,000) (76,000) 307,000 



Amortization expense on these identifiable intangible assets was $63,000 and $50,000 in 2016 and 2015, respectively. The amortization expense is included in selling, general and administrative expenses. At September 30, 2016, the estimated future amortization expense for definite-lived intangible assets for the remainder of 2016 and all of the following four fiscal years is as follows:







 

 

 



 

 

 

Year Ending December 31:

 

 

 

2016

 

$  

13,000 

2017

 

 

53,000 

2018

 

 

48,000 

2019

 

 

42,000 

2020

 

 

42,000