Note 8 - Intangible Assets

12 Months Ended

Jan. 02, 2016

Intangible Assets Disclosure [Text Block]

8.	INTANGIBLE ASSETS

The Company evaluates long-lived assets and intangible assets with definite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When the Company determines that it is probable that undiscounted future cash flows will not be sufficient to recover an asset’s carrying amount, the asset is written down to its fair value. Assets to be disposed of by sale, if any, are reported at the lower of the carrying amount or fair value less cost to sell. The Company’s intangible assets consist of customer relationships and non-compete agreements.

The following table reflects the components of net intangible assets, excluding goodwill, as of January 2, 2016:

	Engineering			Information Technology			Total
Balance as of December 28, 2013	$	179		$	37		$	216

Amortization of intangibles during the fifty-three week period ended January 3, 2015		58			32			90

Intangibles acquired, PCI acquisition		68			-			68

Balance as of January 3, 2015	$	189		$	5		$	194

Amortization of intangibles during the fifty-two week period ended January 2, 2016		(77	)		(5	)		(82	)

Intangibles acquired, SDS acquisition		140			-			140

Balance as of January 2, 2016	$	252		$	-		$	252

The Company periodically writes off fully amortized intangible assets. The Company wrote off $291 in fully amortized intangibles for the year ended January 2, 2016. The Company did not write off any fully amortized intangibles for the year ended January 3, 2015.

Schedule of Intangible Assets by class at January 2, 2016 and January 3, 2015:

	January 2, 2016		January 3, 2015
Restricted covenants	$	53	$	44

Customer relationships		199		150

Total Intangible Assets	$	252	$	194

Expected Future Amortization Expense:

Fiscal Year	Total
2016	$	83
2017		67
2018		52
2019 and thereafter		50

Total	$	252