Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 3 Months Ended
Jun. 30, 2013
Intangible Assets [Abstract]  
INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS:

 

Intangible assets are comprised of the following:

 

                         
    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount 		 

At June 30, 2013

                        

Intangibles subject to amortization:

                        

Backlog

   $ 170     $ 170     $ —    

Customer relationships

     2,700       457       2,243  
   

 

 

    

 

 

    

 

 

  
    $ 2,870     $ 627     $ 2,243  
   

 

 

    

 

 

    

 

 

  

Intangibles not subject to amortization:

                        

Permits

   $ 10,300     $ —       $ 10,300  

Tradename

     2,500       —         2,500  
   

 

 

    

 

 

    

 

 

  
    $ 12,800     $ —       $ 12,800  
   

 

 

    

 

 

    

 

 

  

At March 31, 2013

                        

Intangibles subject to amortization:

                        

Backlog

   $ 170     $ 170     $ —    

Customer relationships

     2,700       412       2,288  
   

 

 

    

 

 

    

 

 

  
    $ 2,870     $ 582     $ 2,288  
   

 

 

    

 

 

    

 

 

  

Intangibles not subject to amortization:

                        

Permits

   $ 10,300     $ —       $ 10,300  

Tradename

     2,500       —         2,500  
   

 

 

    

 

 

    

 

 

  
    $ 12,800     $ —       $ 12,800  
   

 

 

    

 

 

    

 

 

  

Intangible assets are amortized on a straight line basis over the estimated useful lives. Intangible amortization expense for the three months ended June 30, 2013 and 2012 was $45 and $45, respectively. As of June 30, 2013, amortization expense is estimated to be $135 for the remainder of fiscal 2014 and $180 in each of the fiscal years ending March 31, 2015, 2016, 2017 and 2018.