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Intangible Assets | 6 Months Ended
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Sep. 30, 2013
Intangible Assets |
| 10. | Intangible Assets
The components of intangible assets as at September 30, 2013 and March 31, 2013 were as follows:
|  | As of September 30, 2013 |
|  | Cost |  |  | Accumulated Amortization |  |  | Net |
Software |  | $ | 8,249 |  |  | $ | (2,001 | ) |  | $ | 6,248 |
Trade name / Trademark |  |  | 351 |  |  |  | (30 | ) |  | $ | 321 |
Customer list |  |  | 5,327 |  |  |  | (1,601 | ) |  | $ | 3,726 |
License agreements |  |  | 798 |  |  |  | (484 | ) |  | $ | 314 |
|  | $ | 14,725 |  |  | $ | (4,116 | ) |  | $ | 10,609 |
We complete our annual impairment tests in the fourth quarter of each year unless events or circumstances indicate that an asset may be impaired. There were no indications of impairment present during the period ended September 30, 2013. However, the Company recorded an increase in intangible assets of $6,826 for the acquisition of MIA. The Company did not record an impairment charge for the year ended March 31, 2013.
|  | As of March 31, 2013 |
|  | Cost |  |  | Accumulated Amortization |  |  | Net |
Software |  | $ | 2,429 |  |  | $ | (1,269 | ) |  | $ | 1,160 |
Trade name / Trademark |  |  | 297 |  |  |  | (16 | ) |  | $ | 281 |
Customer list |  |  | 4,675 |  |  |  | (1,407 | ) |  | $ | 3,268 |
License agreements |  |  | 498 |  |  |  | (450 | ) |  | $ | 48 |
|  | $ | 7,899 |  |  | $ | (3,142 | ) |  | $ | 4,757 |
The Company has included amortization of acquired intangible assets directly attributable to revenue-generating activities in cost of revenues. During the six month period ended September 30, 2013 and 2012, the Company recorded amortization expense in the amount of $975 and $116, respectively, in cost of revenues. Based on the amortizable intangible assets as of September 30, 2013, we estimate future amortization expense to be as follows:
Year Ending September 30, |  | Amortization Expense |
|  | (in thousands) |
2014 |  | $ | 2,054 |
2015 |  |  | 1,847 |
2016 |  |  | 1,821 |
2017 |  |  | 1,800 |
2018 |  |  | 1,055 |
Future |  |  | 1,823 |
|  | $ | 10,401 |
The initial accounting of the Intangibles of MIA are incomplete and subject to changes, which may result in significant changes to provisional amounts. The Company has recorded provisional amounts based upon management’s best estimate of the value as a result of preliminary analysis. Below is a summary of Goodwill and Intangible assets:
|  | Intangible Assets |  |  | Goodwill |
Balance as of March 31, 2013 |  | $ | 4,757 |  |  | $ | 3,588 |
Acquisition |  |  | 6,826 |  |  |  | 1,252 |
Amortization of intangibles |  |  | (461 | ) |  |  | (— | )
Balance as of June 30, 2013 |  |  | 11,122 |  |  |  | 4,840 |
Adjustment to Acquisition |  |  | (0 | ) |  |  | (70 | )
Amortization of intangibles |  |  | 513 |  |  |  | — |
Balance as of September 30, 2013 |  |  | 10,609 |  |  |  | 4,770 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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