| Intangible Assets |
Note 6 – Intangible Assets Intangible assets are as follows:
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April 30, 2025 |
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January 31, 2025 |
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(In thousands) |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
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Currency
Translation
Adjustment |
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Net
Carrying
Amount |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
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Currency
Translation
Adjustment |
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Net
Carrying
Amount |
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RITEC: |
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Customer Contract
Relationships |
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$ |
2,830 |
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$ |
(1,772 |
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$ |
— |
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$ |
1,058 |
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$ |
2,830 |
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$ |
(1,755 |
) |
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$ |
— |
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$ |
1,075 |
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TrojanLabel: |
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Distributor Relations |
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937 |
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(798 |
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33 |
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172 |
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937 |
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(774 |
) |
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16 |
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179 |
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Honeywell: |
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Customer Contract
Relationships |
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27,773 |
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(13,878 |
) |
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— |
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13,895 |
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27,773 |
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(13,661 |
) |
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— |
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14,112 |
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Astro Machine: |
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Customer Contract
Relationships |
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3,060 |
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(1,683 |
) |
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— |
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1,377 |
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3,060 |
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(1,530 |
) |
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— |
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1,530 |
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Trademarks |
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420 |
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(231 |
) |
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— |
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189 |
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420 |
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(210 |
) |
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— |
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210 |
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MTEX: |
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Customer Contract
Relationships |
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2,603 |
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(259 |
) |
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109 |
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2,453 |
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2,603 |
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(194 |
) |
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(104 |
) |
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2,305 |
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Internally Developed Technology |
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4,719 |
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(782 |
) |
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182 |
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4,119 |
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4,719 |
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(586 |
) |
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(181 |
) |
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3,952 |
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Trademarks |
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217 |
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(72 |
) |
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6 |
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151 |
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217 |
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(54 |
) |
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(7 |
) |
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156 |
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Intangible Assets, net |
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$ |
42,559 |
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$ |
(19,475 |
) |
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$ |
330 |
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$ |
23,414 |
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$ |
42,559 |
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$ |
(18,764 |
) |
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$ |
(276 |
) |
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$ |
23,519 |
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There were no impairments to intangible assets during the three months ended April 30, 2025 and April 27, 2024. With respect to the acquired intangible assets included in the table above, amortization expense of $0.7 million and $0.4 million has been included in the condensed consolidated statements of income for the three months ended April 30, 2025, and April 27, 2024, respectively. Estimated amortization expense for the next five fiscal years is as follows:
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(In thousands) |
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Remaining
2026 |
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2027 |
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2028 |
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2029 |
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2030 |
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Estimated amortization expense |
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$ |
2,131 |
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$ |
2,841 |
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$ |
2,342 |
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$ |
1,976 |
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$ |
1,976 |
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