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PURCHASED INTANGIBLE ASSETS
 3 Months Ended
Apr. 30, 2020
PURCHASED INTANGIBLE ASSETS  
PURCHASED INTANGIBLE ASSETS

NOTE 5 – PURCHASED INTANGIBLE ASSETS

 

Primarily due to the significant reduction of the fair value of the business of APC deemed to have occurred as a result of the substantial contract loss discussed in Note 2 above, the Company recorded an impairment loss in the first quarter ended April 30, 2019 in the amount of $2.1 million, which was the remaining balance of goodwill associated with APC.

 

At both April 30, 2020 and January 31, 2020, the goodwill balances related to the acquisitions of GPS and TRC were $18.5 million and $9.5 million, respectively. No other changes were made to the balances of goodwill during the three-month periods ended April 30, 2020 and 2019. Management does not believe that any events or circumstances that have occurred or arisen since January 31, 2020 required  an updated assessment of the goodwill balances of either GPS or TRC.

 

The Company’s purchased intangible assets, other than goodwill, consisted of the following elements as of April 30 and January 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April 30, 2020

    

January 31,

 

 

Estimated

 

Gross

 

Accumulated

 

Net

 

2020 (net

 

    

Useful Life

    

Amount

    

Amortization

    

Amount

    

amount)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

15 years

 

$

8,142

 

$

4,578

 

$

3,564

 

$

3,699

Process certifications

 

7 years

 

 

1,897

 

 

1,197

 

 

700

 

 

768

Customer relationships

 

4-10 years

 

 

1,346

 

 

834

 

 

512

 

 

534

Totals

 

 

 

$

11,385

 

$

6,609

 

$

4,776

 

$

5,001