Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 9 Months Ended
Dec. 31, 2011
Intangible Assets [Abstract]  
INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS:

 

Intangible assets are comprised of the following:

 

                         
    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount		  

At December 31, 2011

                        

Intangibles subject to amortization:

                        

Backlog

   $ 170     $ 170     $ —    

Customer relationships

     2,700       188       2,512  
   

 

 

    

 

 

    

 

 

  
    $ 2,870     $ 358     $ 2,512  
   

 

 

    

 

 

    

 

 

  

Intangibles not subject to amortization:

                        

Permits

   $ 10,300     $ —       $ 10,300  

Tradename

     2,500       —         2,500  
   

 

 

    

 

 

    

 

 

  
    $ 12,800     $ —       $ 12,800  
   

 

 

    

 

 

    

 

 

  

At March 31, 2011

                        

Intangibles subject to amortization:

                        

Backlog

   $ 170     $ 99     $ 71  

Customer relationships

     2,700       53       2,647  
   

 

 

    

 

 

    

 

 

  
    $ 2,870     $ 152     $ 2,718  
   

 

 

    

 

 

    

 

 

  

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 the three and nine months ended December 31, 2011 was $45 and $206, respectively. Amortization expense for the three and nine months ended December 31, 2010 was $0. As of December 31, 2011, amortization expense is estimated to be $45 for the remainder of fiscal 2012 and $180 in each of the fiscal years ending March 31, 2013, 2014, 2015 and 2016.