Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Intangible Assets

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Note 3 - Intangible Assets
6 Months Ended
Jun. 30, 2015
Disclosure Text Block [Abstract]  
Intangible Assets Disclosure [Text Block]

3.

Intangible Assets


The following table summarizes information relating to the Company’s definite-lived intangible assets:


           

June 30, 2015

   

December 31, 2014

 
   

Useful

   

Gross

           

Net

   

Gross

           

Net

 
   

Lives

   

Carrying

   

Accumulated

   

Carrying

   

Carrying

   

Accumulated

   

Carrying

 
   

(Years)

   

Amount

   

Amortization

   

Amount

   

Amount

   

Amortization

   

Amount

 

Intangibles (amount in thousands)

                                                       

Patent

    8-18     $ 512     $ (186 )   $ 326     $ 512     $ (168 )   $ 344  

Software

    3       379       (358 )     21       375       (319 )     56  

Customer relationships

    12       3,370       (1,503 )     1,867       3,370       (1,335 )     2,035  

Permit

    10       545       (345 )     200       545       (318 )     227  

Total

          $ 4,806     $ (2,392 )   $ 2,414     $ 4,802     $ (2,140 )   $ 2,662  

The intangible assets noted above are amortized on a straight-line basis over their useful lives with the exception of customer relationships which are being amortized using an accelerated method. The Company has only one definite-lived permit that is subject to amortization.


The following table summarizes the expected amortization over the next five years for our definite-lived intangible assets:


   

Amount

 

Year

 

(In thousands)

 
         

2015 (remaining)

  $ 239  

2016

    425  

2017

    391  

2018

    361  

2019

    280  
    $ 1,696  

Amortization expenses relating to the definite-lived intangible assets as discussed above were $125,000 and $252,000 for the three and six months ended June 30, 2015, respectively, and $176,000 and $352,000 for the three and six months ended June 30, 2014, respectively.


Goodwill Impairment


During the second quarter of 2014, the Company recorded a goodwill impairment charge of $380,000 in connection with the sale of our Schreiber, Yonley and Associates, Inc. (“SYA”) subsidiary which was completed on July 29, 2014.