Note 6 - Goodwill and Intangible Assets

9 Months Ended

Oct. 31, 2018

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

6. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill for the

nine

months ended

October 31, 2018

were as follows:

	Gross Carrying Amount			Accumulated Impairment			Goodwill, Net
	(in thousands)
Balance at January 31, 2018	$	26,631		$	(15,608	)	$	11,023
Additions		1,584			-			1,584
Impact of foreign currency translation		(323	)		-			(323	)
Balance at October 31, 2018	$	27,892		$	(15,608	)	$	12,284

Additions to goodwill were a result of immaterial acquisitions where the purchase price exceeded the estimated fair value of the acquired net assets. Pro forma financial information for the acquisitions has

not

been presented, as the effects were

not

material to the Company’s historical consolidated financial statements.

The Company performed its annual goodwill impairment review during the

fourth

quarter of fiscal

2018.

The analysis compared the Company’s market capitalization to its net assets as of the test date,

November 30, 2017.

As the market capitalization significantly exceeded the Company’s net assets, there was

no

indication of goodwill impairment for fiscal

2018.

The Company monitors the indicators for goodwill impairment testing between annual tests.

No

adverse events occurred during the

nine

months ended

October 31, 2018 

that would cause the Company to test goodwill for impairment.

Intangible Assets

	October 31 , 2018
	(in thousands)
Amortizable intangible assets
Customer relationships	$	1,258
Less: accumulated amortization		(45	)
Net amortizable intangible assets	$	1,213

The Company’s intangible assets as of

October 31, 2018

are related to the acquisitions completed in the

second

and

third

quarters of fiscal

2019.

Intangible assets are included in “Other assets, net” in the accompanying Condensed Consolidated Balance Sheets, and are amortized over an estimated

5

year useful life.

The following table summarizes the estimated amortization expense relating to the Company’s intangible assets as of

October 31, 2018:

Fiscal Years	(in thousands)
2019 remaining	$	60
2020		243
2021		243
2022		243
Thereafter		424
	$	1,213