GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 8 – GOODWILL AND OTHER INTANGIBLE ASSETS

During the nine-month period ended September 30, 2012, there was no change to the carrying value of goodwill.

Other intangible assets were as follows:

	September 30, 2012						December 31, 2011
	Cost		Accumulated amortization		Net book value		Cost		Accumulated amortization		Net book value
Other intangible assets:
Customer relationships	$	5,070,000	$	3,825,000	$	1,245,000	$	5,070,000	$	3,581,000	$	1,489,000
Trademarks		199,000		—		199,000		199,000		—		199,000
Drawings		290,000		81,000		209,000		290,000		70,000		220,000
Licensing		305,000		106,000		199,000		105,000		63,000		42,000
Totals	$	5,864,000	$	4,012,000	$	1,852,000	$	5,664,000	$	3,714,000	$	1,950,000

Amortization expense for intangible assets subject to amortization was as follows:

Three months ended September 30,				Nine months ended September 30,
2012		2011		2012		2011
$	99,000	$	88,000	$	298,000	$	263,000

Amortization expense for each of the twelve-month periods ending September 30, 2013 through September 30, 2017 is estimated to be as follows: 2013 - $294,000; 2014 - $233,000; 2015 - $232,000; 2016 - $202,000 and 2017 - $175,000.  The weighted average amortization period for intangible assets was 7.5 years at September 30, 2012 and 8.2 years at December 31, 2011.