Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
6 Months Ended
Jul. 02, 2011
Goodwill and Intangible Assets [Abstract]  
Goodwill and Intangible Assets
3) Goodwill and Intangible Assets
The following table summarizes the changes in the carrying amount of goodwill for 2011:
                         
            Foreign        
    December 31,     Currency     July 2,  
(in thousands)   2010     Translation     2011  
Aerospace
  $ 5,210     $ 102     $ 5,312  
Test Systems
    2,400             2,400  
 
                 
Total
  $ 7,610     $ 102     $ 7,712  
 
                 
The following table summarizes acquired intangible assets as follows:
                                         
            July 2, 2011     December 31, 2010  
    Weighted     Gross Carrying     Accumulated     Gross Carrying     Accumulated  
(in thousands)   Average Life     Amount     Amortization     Amount     Amortization  
Patents
  12 Years     $ 1,271     $ 636     $ 1,271     $ 586  
Trade Names
    N/A       1,053             1,053        
Completed and Unpatented Technology
  10 - 15 Years       3,177       1,097       3,177       972  
Government Contracts
  6 Years       347       346       347       342  
Backlog and Customer Relationships
  3 - 20 Years       3,385       2,330       3,385       2,293  
 
                               
Total Intangible Assets
          $ 9,233     $ 4,409     $ 9,233     $ 4,193  
 
                               
All acquired intangible assets other than goodwill and trade names are being amortized. Amortization expense was approximately $0.2 million and $0.3 million for the six months ended and $0.1 million and $0.1 million for the three months ended July 2, 2011 and July 3, 2010, respectively. Amortization expense for each of the next five years is estimated to be approximately $0.3 million for the balance of 2011 and $0.4 million each for 2012, 2013, 2014 and 2015.