Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
9 Months Ended
Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill
Intangible Assets and Goodwill
Changes in the Company’s amortizable intangible assets consisted of the following (in thousands):
 
September 30, 2015
 
Customer Relationships
Developed Technology
Trademarks / Trade-Names
Covenants Not to Compete
Total
Original cost
$
5,166

$
8,659

$
2,191

$
39

$
16,055

Accumulated amortization
(976
)
(2,916
)
(481
)
(13
)
(4,386
)
Net identifiable intangible assets
$
4,190

5,743

1,710

26

$
11,669

Weighted-average useful lives (years)
10

6

15

2

9

 
December 31, 2014
 
Customer Relationships
Developed Technology
Trademarks / Trade-Names
Covenants Not to Compete
Total
Original cost
$
5,226

$
8,770

$
2,193

$
40

$
16,229

Accumulated amortization
(671
)
(1,832
)
(334
)
(8
)
(2,845
)
Net identifiable intangible assets
$
4,555

6,938

1,859

32

$
13,384

Weighted-average useful lives (years)
10

6

15

2

9

Changes to the carrying amount of net amortizable intangible assets for the nine months ended September 30, 2015 consisted of the following (in thousands):
 
Nine Months Ended September 30, 2015
Balance, beginning of period
$
13,384

Amortization expense
(1,552
)
Currency translation
(163
)
Balance, end of period
$
11,669

Amortization expense associated with the developed technology included in cost of service revenues was $320,000 and $140,000 for the three months ended September 30, 2015 and 2014, respectively, and $953,000 and $420,000 for the nine months ended September 30, 2015 and 2014, respectively. Amortization expense associated with other acquired intangible assets included in operating expenses as “Amortization of purchased intangibles” was $200,000 and $157,000 for the three months ended September 30, 2015 and 2014, respectively, and $599,000 and $470,000 for the nine months ended September 30, 2015 and 2014, respectively.
Changes to the carrying amount of goodwill for the nine months ended September 30, 2015 consisted of the following (in thousands):
 
Nine Months Ended September 30, 2015
Balance, beginning of period
$
8,525

Currency translation
(230
)
Balance, end of period
$
8,295


During the three months ended September 30, 2015, the Company’s stock price traded at levels which caused the Company’s enterprise value, excluding any control premium, to approximate its book value, resulting in increased risk of a potential impairment of goodwill. As of September 30, 2015, the Company’s enterprise value, excluding a control premium, exceeded its book value by approximately 1%. Continued declines in the Company's market capitalization could require the Company to record significant goodwill and other impairment charges.