Annual report pursuant to Section 13 and 15(d)

Intangible Assets

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Intangible Assets
 12 Months Ended
Mar. 31, 2012
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 March 31, 2012

                        

Intangibles subject to amortization:

                        

Backlog

   $ 170     $ 170     $ —  

Customer relationships

     2,700       232       2,468  
   

 

 

    

 

 

    

 

 

  
    $ 2,870     $ 402     $ 2,468  
   

 

 

    

 

 

    

 

 

  

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 was $250 and $152 in fiscal 2012 and fiscal 2011, respectively. As of March 31, 2012, amortization expense is estimated to be $180 in each of the fiscal years ending March 31, 2013, 2014, 2015, 2016 and 2017.