Property and Equipment

3 Months Ended

Dec. 31, 2016

Property and equipment, net consisted of the following:

(In thousands)	Useful Lives	December 31, 2016			September 30, 2016

Computer software	5 years	$	1,447		$	1,447
Office equipment, furniture and fixtures and leasehold improvements	2 to 10 years		2,531			2,514
Total property and equipment, at cost			3,978			3,961
Accumulated depreciation and amortization			(3,429	)		(3,350	)
Property and equipment, net		$	549		$	611

Leasehold improvements are amortized over the term of the lease.

Depreciation expense for the three-month periods ended December 31, 2016 and 2015 was approximately $79,000 and $66,000, respectively.