Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
9 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
5. Goodwill and Intangible Assets

Goodwill

 

The following table sets forth activity in goodwill from September 2016 through June 30, 2018. See Note 11 for details of acquisitions that occurred during the year ended September 30, 2017.

 

(in thousands)      
Goodwill as of September 30, 2016   $ 18,590  
Acquisition of SNI Companies     58,003  
Goodwill as of September 30, 2017   $ 76,593  
         
Goodwill as of June 30, 2018   $ 76,593  

   

During the nine months ended June 30, 2018 and the year ended September 30, 2017 the Company did not record any impairment of goodwill.

 

Intangible Assets

 

    June 30,2018     September 30,2017  
(in thousands)   Cost     Accumulated Amortization     Net Book Value     Cost     Accumulated Amortization     Net Book Value  
                                     
Customer relationships   $ 29,070     $ 6,744     $ 22,326     $ 29,070     $ 4,601     $ 24,469  
Trade name     8,329       2,182       6,147       8,329       1,115       7,214  
Non-Compete agreements     4,331       1,942       2,389       4,331       965       3,366  
Total   $ 41,730     $ 10,868     $ 30,862     $ 41,730     $ 6,681     $ 35,049  

 

Estimated Amortization Expense  
Fiscal 2018   $ 1,396  
Fiscal 2019     5,586  
Fiscal 2020     5,038  
Fiscal 2021     4,088  
Fiscal 2022     3,469  
Thereafter     11,285  
    $ 30,862  

 

The amortization expense attributable to the amortization of identifiable intangible assets was approximately $1,409,000 and $1,570,000 for the three months ended June 30, 2018 and 2017, respectively, and was approximately $4,199,000 and $2,308,000 for the nine months ended June 30, 2018 and 2017, respectively.