Note 7 - Intangible Assets

12 Months Ended

Oct. 01, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

(7) 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 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

As of October 2, 2021:
Customer relationships		17.1			$	9,870			$	(3,482	)		$	6,388
Developed technology and know-how		20.0				1,800				(639	)			1,161
Non-competition agreements		5.0				400				(284	)			116
Trade name		2.7				250				(247	)			3
					$	12,320			$	(4,652	)		$	7,668

Amortization expense for intangibles was $821,000 in 2022, $899,000 in 2021 and $1.0 million in 2020. Amortization expense for the next five years is $756,000 in 2023, $750,000 in 2024, $743,000 in 2025, $752,000 in 2026 and $480,000 in 2027.