Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Contingent Consideration

v2.4.0.6
Goodwill and Contingent Consideration
 6 Months Ended
Dec. 31, 2011
Goodwill and Contingent Consideration [Abstract]  
Goodwill and Contingent Consideration [Text Block]
Goodwill and Intangible Assets
Components of intangible assets consist of the following (in thousands):
 
December 31, 2011
 
July 2, 2011
 
 
 
Cost
Accumulated Amortization
Net Value
 
Cost
Accumulated Amortization
Net Value
 
Economic Life
 
 
 
 
 
 
 
 
 
 
Goodwill
$
17,424

$
(612
)
$
16,812

 
$
17,424

$
(612
)
$
16,812

 
N/A
 
 
 
 
 
 
 
 
 
 
Intangibles:
 
 
 
 
 
 
 
 
 
Tradename/trademarks
1,530

(488
)
1,042

 
1,530

(450
)
1,080

 
20 yrs
Customer relationships
7,220

(2,305
)
4,915

 
7,220

(2,124
)
5,096

 
20 yrs
Technology
1,220

(246
)
974

 
1,220

(185
)
1,035

 
10 yrs
Non-compete agreements
517

(347
)
170

 
517

(323
)
194

 
4 – 8.5 yrs
Total intangibles
10,487

(3,386
)
7,101

 
10,487

(3,082
)
7,405

 
 
Amortization expense for intangible assets was $.1 million and $.3 million for the three months ended and for the six months ended December 31, 2011 respectively, and $0.6 million for the fiscal year ended July 2, 2011. Amortization expense is estimated to be approximately $0.6 million each for fiscal years 2012, 2013, 2014, 2015 and 2016.