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

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

3 Months Ended

Jun. 30, 2014

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 June 30, 2014
Intangibles subject to amortization:
Backlog	$	170	$	170	$	-
Customer relationships		2,700		637		2,063

	$	2,870	$	807	$	2,063


Intangibles not subject to amortization:
Permits	$	10,300	$	-	$	10,300
Tradename		2,500		-		2,500

	$	12,800	$	-	$	12,800


At March 31, 2014
Intangibles subject to amortization:
Backlog	$	170	$	170	$	-
Customer relationships		2,700		592		2,108

	$	2,870	$	762	$	2,108


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, 2014 and 2013 was $45 and $45, respectively. As of June 30, 2014, amortization expense is estimated to be $135 for the remainder of fiscal 2015 and $180 in each of the fiscal years ending March 31, 2016, 2017, 2018 and 2019.