| GOODWILL AND OTHER INTANGIBLE ASSETS |
NOTE 5 – GOODWILL AND
OTHER INTANGIBLE ASSETS
All goodwill shown in the
accompanying consolidated balance sheets is associated with the Company’s
Wireless DataCom segment. Changes in goodwill are as follows (in thousands):
|
|
Nine Months Ended |
|
|
November 30, |
|
|
2016 |
|
2015 |
| Balance at
beginning of period |
|
$ |
16,508 |
|
$ |
15,483 |
| Acquisition
of LoJack |
|
|
47,056 |
|
|
- |
| Acquisition
of Crashboxx |
|
|
- |
|
|
1,025 |
| Balance at
end of period |
|
$ |
63,564 |
|
$ |
16,508 |
Other intangible assets are
comprised as follows (in thousands):
|
|
|
|
Gross |
|
Accumulated
Amortization |
|
Net |
|
|
Amortization |
|
Feb. 29, |
|
|
|
|
Nov. 30, |
|
Feb. 29, |
|
|
|
|
Nov. 30, |
|
Nov. 30, |
|
Feb. 29, |
|
|
Period |
|
2016 |
|
Additions |
|
2016 |
|
2016 |
|
Expense |
|
2016 |
|
2016 |
|
2016 |
| Supply
contract |
|
5
years |
|
$ |
2,220 |
|
$ |
- |
|
$ |
2,220 |
|
$ |
1,679 |
|
$ |
325 |
|
$ |
2,004 |
|
$ |
216 |
|
$ |
541 |
| Developed
technology |
|
2-7
years |
|
|
14,080 |
|
|
8,200 |
|
|
22,280 |
|
|
6,427 |
|
|
2,905 |
|
|
9,332 |
|
|
12,948 |
|
|
7,653 |
| Tradenames |
|
7-10
years |
|
|
2,143 |
|
|
35,500 |
|
|
37,643 |
|
|
1,522 |
|
|
2,741 |
|
|
4,263 |
|
|
33,380 |
|
|
621 |
| Customer
lists |
|
4-7
years |
|
|
18,300 |
|
|
4,650 |
|
|
22,950 |
|
|
10,358 |
|
|
3,483 |
|
|
13,841 |
|
|
9,109 |
|
|
7,942 |
| Dealer
relationships |
|
7
years |
|
|
- |
|
|
16,850 |
|
|
16,850 |
|
|
- |
|
|
1,705 |
|
|
1,705 |
|
|
15,145 |
|
|
- |
| Covenants
not to compete |
|
5
years |
|
|
170 |
|
|
|
|
|
170 |
|
|
128 |
|
|
25 |
|
|
153 |
|
|
17 |
|
|
42 |
| Patents |
|
5
years |
|
|
273 |
|
|
67 |
|
|
340 |
|
|
62 |
|
|
19 |
|
|
81 |
|
|
259 |
|
|
211 |
|
|
|
|
$ |
37,186 |
|
$ |
65,267 |
|
$ |
102,453 |
|
$ |
20,176 |
|
$ |
11,203 |
|
$ |
31,379 |
|
$ |
71,074 |
|
$ |
17,010 |
Estimated future
amortization expense is as follows (in thousands):
| Fiscal Year |
|
|
|
|
| 2017 (remainder) |
|
$ |
3,866 |
| 2018 |
|
|
15,008 |
| 2019 |
|
|
11,663 |
| 2020 |
|
|
9,655 |
| 2021 |
|
|
7,833 |
| Thereafter |
|
|
23,049 |
|
|
$ |
71,074 |
|