The following tables present details of the Company’s
intangibles:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (amount in thousands) |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Foreign
Currency
Translation
Adjustment |
|
|
Net |
|
|
As of December 29, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Software
|
|
$ |
6,251 |
|
|
$ |
(4,240 |
) |
|
$ |
— |
|
|
$ |
2,011 |
|
|
Customer relationships
|
|
|
4,373 |
|
|
|
(1,037 |
) |
|
|
43 |
|
|
|
3,379 |
|
|
Backlog
|
|
|
119 |
|
|
|
(78 |
) |
|
|
1 |
|
|
|
42 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangibles
|
|
$ |
10,743 |
|
|
$ |
(5,355 |
) |
|
$ |
44 |
|
|
$ |
5,432 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (amount in thousands) |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Foreign
Currency
Translation
Adjustment |
|
|
Net |
|
|
As of June 30, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Software
|
|
$ |
5,944 |
|
|
$ |
(3,850 |
) |
|
$ |
— |
|
|
$ |
2,094 |
|
|
Customer relationships
|
|
|
4,373 |
|
|
|
(606 |
) |
|
|
(88 |
) |
|
|
3,679 |
|
|
Backlog
|
|
|
119 |
|
|
|
(51 |
) |
|
|
(1 |
) |
|
|
67 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangibles
|
|
$ |
10,436 |
|
|
$ |
(4,507 |
) |
|
$ |
(89 |
) |
|
$ |
5,840 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Company recorded amortization expense relating to intangibles
of $0.4 million and $0.3 million for the three months
ended December 29, 2017 and December 30, 2016,
respectively, and $0.7 million and $0.3 million for the
six months ended December 29, 2017 and December 30, 2016,
respectively.
The weighted-average remaining life of customer relationships and
backlog are:
|
|
|
|
|
|
|
|
|
| (years) |
|
As of
December 29,
2017 |
|
|
As of
June 30,
2017 |
|
|
Customer relationships
|
|
|
6.5 |
|
|
|
6.9 |
|
|
Backlog
|
|
|
1.3 |
|
|
|
1.6 |
|
Based on the carrying amount of intangibles as of December 29,
2017, and assuming no future impairment of the underlying assets,
the estimated future amortization during each fiscal year was as
follows:
|
|
|
|
|
| (amount in thousands) |
|
|
|
|
2018 (remaining six months)
|
|
$ |
794 |
|
|
2019
|
|
|
1,465 |
|
|
2020
|
|
|
987 |
|
|
2021
|
|
|
837 |
|
|
2022
|
|
|
571 |
|
|
Thereafter
|
|
|
778 |
|
|
|
|
|
|
|
Total
|
|
$ |
5,432 |
|
|
|
|
|
|
|