Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2018

The following table summarizes the activity in the Company's goodwill account by segment during the years ended 2018 and 2017 (in thousands):




	Precision Components Group		3DMT Group		Flanges and Fittings Group		Consolidated
Balance, June 30, 2016	$	6,911	$	2,804	$	—	$	9,715
Adjustments (1)		2,804		(2,804)		—		—
Impairments (2)		(3,303)		—		—		(3,303)
Balance, June 30, 2017		6,412		—		—		6,412
Balance, June 30, 2018	$	6,412	$	—	$	—	$	6,412

(1)

During the fiscal fourth quarter of 2017, the Company revised its business segments, which resulted in transferring the goodwill related to its ATC subsidiary from the 3DMT Group to the Precision Components Group.

(2)

The Company reviewed its future projections during the fourth quarter of 2017. By utilization of a discounted cash flow analysis, which takes into account projected revenues and expenses, the Company determined that the goodwill of ATC and Kecy were impaired, resulting in a charge of $3.3 million.

Summary of intangible assets

The following table summarizes the Company's intangible assets as follows (in thousands):


	As of June 30, 2018						As of June 30, 2017
	Gross						Gross
	Carrying		Accumulated		Net Carrying		Carrying		Accumulated		Net Carrying
Intangible assets:	Amount		Amortization		Amount		Amount		Amortization		Amount
Patents and tradenames	$	3,418		(945)	$	2,473	$	3,418	$	(717)	$	2,701
Customer relationships		24,077		(10,838)		13,239		24,077		(8,429)		15,648
Non-compete agreements		3,654		(3,096)		558		3,642		(2,367)		1,275
Total	$	31,149	$	(14,879)	$	16,270	$	31,137	$	(11,513)	$	19,624

Schedule of estimated future amortization expense of intangible assets

Estimated future amortization expense for the next five years as of June 30, 2018, is as follows (in thousands):


Fiscal Years	Amount
2019	$	3,192
2020		2,636
2021		2,636
2022		2,636
2023		2,636
Thereafter		2,534
Total	$	16,270