Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 3 Months Ended
Jun. 30, 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 June 30, 2012                        

Intangibles subject to amortization:

                        

Backlog

   $ 170     $ 170     $ —    

Customer relationships

     2,700       277       2,423  
   

 

 

    

 

 

    

 

 

  
    $ 2,870     $ 447     $ 2,423  
   

 

 

    

 

 

    

 

 

  

Intangibles not subject to amortization:

                        

Permits

   $ 10,300     $ —       $ 10,300  

Tradename

     2,500       —         2,500  
   

 

 

    

 

 

    

 

 

  
    $ 12,800     $ —       $ 12,800  
   

 

 

    

 

 

    

 

 

  

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  
   

 

 

    

 

 

    

 

 

  

Intangible assets are amortized on a straight line basis over the estimated useful lives. Intangible amortization expense for the three months ended June 30, 2012 and 2011 was $45 and $116, respectively. As of June 30, 2012, amortization expense is estimated to be $135 for the remainder of fiscal 2013 and $180 in each of fiscal 2014, fiscal 2015, fiscal 2016 and fiscal 2017.