AMORTIZABLE INTANGIBLE ASSETS

6 Months Ended

Jul. 04, 2015

AMORTIZABLE INTANGIBLE ASSETS

AMORTIZABLE INTANGIBLE ASSETS

8.Identifiable amortizable intangible assets as of July 4, 2015 include a restrictive land covenant and customer relationships. Collectively, these assets were carried at $43,000, net of $677,000 accumulated amortization. The pre-tax amortization expense for intangible assets during the quarter ended July 4, 2015 was $12,000 compared to $13,000 for the quarter ended June 28, 2014 and was $23,000 and $26,000 for the six months ended July 4, 2015 and June 28, 2014, respectively.

Based upon the intangible assets recorded on the balance sheet at July 4, 2015, amortization expense for the next five years is estimated to be as follows: 2015 — $45,000; 2016 — $21,000 and zero thereafter.