NOTE 6 – INTANGIBLE ASSETS

The goodwill balances for the Power, Industrial, and Teledata segments were $18.5 million, $9.5 million, and $2.7 million, respectively, at July 31, 2026. The goodwill balances for the Power, Industrial, and Teledata segments were $18.5 million, $9.5 million, and $0.1 million, respectively, at January 31, 2026. The increase in the Teledata segment's goodwill balance reflects $2.6 million of goodwill recognized in connection with the ValCor acquisition (see Note 14) on July 31, 2026. Management does not believe that any events or circumstances occurred or arose since January 31, 2026, that required an updated assessment of the goodwill balances.

The Company’s intangible assets, other than goodwill, relate to the Industrial and Teledata segments and consisted of the following as of July 31, 2026 and January 31, 2026:

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On July 31, 2026, the Company recognized $4.7 million of intangible assets in connection with the ValCor acquisition, consisting primarily of customer relationships with a weighted-average estimated useful life of 10 years. There were no other additions to intangible assets during the three and six months ended July 31, 2026, and there were no additions during the three and six months ended July 31, 2025. Amortization expense related to intangible assets for the three and six months ended July 31, 2026 were $0.1 million and $0.2 million, respectively, and was $0.1 million and $0.2 million for the three and six months ended July 31, 2025, respectively.

The following is a schedule of future amounts of amortization related to purchased intangibles:

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