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Note 6 - Goodwill and Other Intangibles

12 Months Ended

Oct. 01, 2011

Goodwill and Intangible Assets Disclosure [Text Block]

6. GOODWILL AND OTHER INTANGIBLES

As of October 1, 2011 and October 2, 2010, we had goodwill of $1,924,131. In addition, we had patents and trademarks (net of accumulated amortization) of $310,289 as of October 1, 2011 and $301,842 as of October 2, 2010. The goodwill is associated with the medical segment, and the patents and trademarks are associated with the medical and custom products segments. Goodwill has an indefinite useful life. The useful lives of individual patents and trademarks have been reviewed, and no material changes were required.

Amortization expense for patents and trademarks from continuing operations during fiscal years 2011, 2010, and 2009 was $64,218, $60,132, and $75,801, respectively. Estimated amortization expense for the next five fiscal years based on existing patents and trademarks is as follows:

	Estimated
	Amortization
Fiscal years	Expense
2012	$	62,338
2013		34,277
2014		31,413
2015		28,243
2016		23,797

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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