AMORTIZABLE INTANGIBLE ASSETS

6 Months Ended

Jul. 02, 2016

AMORTIZABLE INTANGIBLE ASSETS

AMORTIZABLE INTANGIBLE ASSETS

9.    Identifiable amortizable intangible assets as of July 2, 2016 include a restrictive land covenant and customer relationships. At July 2, 2016, these assets were collectively carried at  zero, net of $720,000 accumulated amortization. The pre-tax amortization expense for intangible assets during the quarter ended July 2, 2016 was $10,000 compared to $12,000 for the quarter ended July 4, 2015 and $21,000 and $23,000 for the six months ended July 2, 2016 and July 4, 2015, respectively.

Based upon the intangible assets recorded on the balance sheet at July 2, 2016, amortization expense after the second quarter of 2016 will be zero.