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Note 5 - Intangible Assets

6 Months Ended

Apr. 01, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

(5) Intangible Assets

The primary components of our intangible assets and the related accumulated amortization are as follows:

(In thousands)		Weighted- Average Useful Life (Years)				Gross				Accumulated Amortization				Net Book Value
As of April 1, 2023:
Customer relationships			17.1			$	9,870			$	(4,455	)		$	5,415
Developed technology and know-how			20.0				1,800				(773	)			1,027
Non-competition agreements			5.0				400				(377	)			23
						$	12,070			$	(5,605	)		$	6,465

As of October 1, 2022:
Customer relationships			17.1			$	9,870			$	(4,130	)		$	5,740
Developed technology and know-how			20.0				1,800				(729	)			1,071
Non-competition agreements			5.0				400				(364	)			36
						$	12,070			$	(5,223	)		$	6,847

Amortization expense for intangibles was $187,000 and $204,000 for the three-month periods ended April 1, 2023 and April 2, 2022, respectively, and $382,000 and $412,000 for the six-month periods ended April 1, 2023 and April 2, 2022, respectively. Amortization expense for the next five years is $375,000 in 2023, $750,000 in 2024, $743,000 in 2025, $752,000 in 2026, $480,000 in 2027 and $3.4 million thereafter.