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Note 3 - Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]

(3)  GOODWILL AND INTANGIBLE ASSETS


Goodwill and intangible assets on our balance sheets are the result of our acquisitions of Sigma Systems Corp. ("Sigma") in October 2008 and Thermonics, Inc. ("Thermonics") in January 2012.

Goodwill

All of our goodwill is allocated to our Thermal Products segment. There was no change in the amount of the carrying value of goodwill for the nine months ended September 30, 2014.

Intangible Assets

The following tables provide further detail about our intangible assets as of September 30, 2014 and December 31, 2013:


   

September 30, 2014

 
   

Gross
Carrying
Amount

   

Accumulated

Amortization

   

Net
Carrying
Amount

 
Finite-lived intangible assets:                        

Customer relationships

  $ 1,480     $ 927     $ 553  

Patented technology

    590       336       254  

Software

    270       162       108  

Trade name

    140       95       45  

Customer backlog

    70       70       -  

Non-compete/non-solicitation agreement

    48       48       -  

Total finite-lived intangible assets

    2,598       1,638       960  
Indefinite-lived intangible assets:                        

Sigma trademark

    510       -       510  

Total intangible assets

  $ 3,108     $ 1,638     $ 1,470  

   

December 31, 2013

 
   

Gross

Carrying

Amount

   

Accumulated

Amortization

   

Net

Carrying

Amount

 
Finite-lived intangible assets:                        

Customer relationships

  $ 1,480     $ 725     $ 755  

Patented technology

    590       307       283  

Software

    270       142       128  

Trade name

    140       68       72  

Customer backlog

    70       70       -  

Non-compete/non-solicitation agreement

    48       48       -  

Total finite-lived intangible assets

    2,598       1,360       1,238  
Indefinite-lived intangible assets:                        

Sigma trademark

    510       -       510  

Total intangible assets

  $ 3,108     $ 1,360     $ 1,748  

We generally amortize our finite-lived intangible assets over their estimated useful lives on a straight-line basis, unless an alternate amortization method can be reliably determined. Any such alternate amortization method would be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. None of our intangible assets have any residual value.

The following table sets forth changes in the amount of the carrying value of intangible assets for the nine months ended September 30, 2014:


Balance - January 1, 2014

  $ 1,748  

Amortization

    (278 )

Balance - September 30, 2014

  $ 1,470  

Total amortization expense for the nine months ended September 30, 2014 and 2013 was $278 and $349, respectively. The following table sets forth the estimated annual amortization expense for our finite-lived intangible assets for each of the next five years:


2014 (remainder)

  $ 77  

2015

  $ 289  

2016

  $ 229  

2017

  $ 212  

2018

  $ 65