Graham Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

6 Months Ended

Sep. 30, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 5 – INTANGIBLE ASSETS:

Intangible assets are comprised of the following:


	Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
At September 30, 2013
Intangibles subject to amortization:
Backlog		$	170		$	170		$	-
Customer relationships			2,700			502			2,198

		$	2,870		$	672		$	2,198


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 their estimated useful lives. Intangible amortization expense for each of the three-month periods ended September 30, 2013 and 2012 was $45. Intangible amortization expense for each of the six months ended September 30, 2013 and 2012 was $90. As of September 30, 2013, amortization expense is estimated to be $90 for the remainder of fiscal 2014 and $180 in each of the fiscal years ending March 31, 2015, 2016, 2017 and 2018.