Note 3 - Intangible Assets

3 Months Ended

Sep. 30, 2013

Table Text Block [Abstract]

Marketable Securities [Table Text Block]

(3) Intangible Assets

The major components of intangible assets are as follows:

	September 30, 2013				June 30, 2013
(amounts in thousands)	Gross Carrying Amount		Net Carrying Amount		Gross Carrying Amount		Net Carrying Amount
Amortizable intangible assets:
Customer relationships	$	7,530	$	3,652	$	7,530	$	3,840
Developed technology		970		190		780		13
Non-competition agreements		1,329		199		1,130		-
Total	$	9,829		4,041	$	9,440		3,853
Non-amortizable intangible assets:
Trade names				2,980				2,980
Total intangible assets			$	7,021			$	6,833

Intangible asset amortization expense for the three months ended September 30, 2013and 2012aggregated $0.2 millionand $0.3 million, respectively. Amortization expense related to developed technology is recorded in cost of sales, and amortization expense for non-competition agreements and customer relationships is recorded in general and administrative expense.

The changes in the carrying amount of goodwill is summarized as follows:

(amounts in thousands)
Balance, June 30, 2013	$	42,297
Cellular Machines, LLC acquisition		111
Balance, September 30, 2013	$	42,408

Acquisition - In August 2013, the Company acquired the assets of Cellular Machines, LLC (Cell Machines), a Texas-based company. The assets acquired are principally comprised of wireless device and system technology and other intellectual property, which the Company expects to enhance its product line capability in the Wireless Segment. The aggregate purchase price was $0.5 million for the acquired assets, of which $350,000 was paid upon consummation of the acquisition and the remaining $150,000 is due in August 2014 unless such amount is offset in satisfaction of certain indemnification obligations of Cell Machines. In addition, the Company hired two employees from Cell Machines who have accepted employment with Anaren Microwave, Inc., a subsidiary of Anaren, Inc. The acquisition and its impact on the balance sheet and results of operations are not material. The purchase price was allocated to the assets acquired based on their respective fair values as of the acquisition date (other intangible assets of $0.4 million), with the amount exceeding the fair value recorded as goodwill of $0.1 million.