Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

3 Months Ended

Jun. 30, 2015

7. Intangible Assets

Intangible assets consisted of the following (in thousands):

	June 30, 2015
	Weighted Average Amortization Period	Intangible Assets, Gross		Accumulated Amortization		Intangible Assets, Net
Manufacturing license	17 years	$	3,700	$	3,598	$	102
Technology	10 years	2,240		1,213		1,027
Parts and service customer relationships	5 years	1,080		1,080		—
TA100 customer relationships	2 years	617		617		—
Backlog	Various	490		351		139
Trade name	1.2 years	69		69		—

Total		$	8,196	$	6,928	$	1,268


	March 31, 2015

	Weighted Average Amortization Period	Intangible Assets, Gross		Accumulated Amortization		Intangible Assets, Net

Manufacturing license	17 years	$	3,700	$	3,585	$	115
Technology	10 years	2,240		1,157		1,083
Parts and service customer relationships	5 years	1,080		1,080		—
TA100 customer relationships	2 years	617		617		—
Backlog	Various	490		351		139
Trade name	1.2 years	69		69		—


Total		$	8,196	$	6,859	$	1,337

Amortization expense for the intangible assets was $0.1 million during the first quarter of each of Fiscal 2016 and Fiscal 2015.

Expected future amortization expense of intangible assets as of June 30, 2015 is as follows (in thousands):

Year Ending March 31,	Amortization Expense
2016 (remainder of fiscal year)	$	263
2017	352
2018	242
2019	224
2020	187
Thereafter	—

Total expected future amortization	$	1,268

The manufacturing license provides the Company with the ability to manufacture recuperator cores previously purchased from Solar Turbines Incorporated (“Solar”). The Company is required to pay a per-unit royalty fee over a seventeen-year period for cores manufactured and sold by the Company using the technology. Royalties of approximately $12,200 and $14,700 were earned by Solar for the first quarter of Fiscal 2016 and 2015, respectively. Earned royalties of approximately $12,200 and $19,300 were unpaid as of June 30, 2015 and March 31, 2015, respectively, and are included in accounts payable and accrued expenses in the accompanying balance sheets.