Intangible Assets |
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Sep. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Intangible Assets |
7. Intangible Assets
Intangible assets consisted of the following as of September 30, 2017 and March 31, 2017 (in thousands):
Amortization expense for the intangible assets was $0.1 million for each of the three and six months ended September 30, 2017 and 2016, respectively.
Expected future amortization expense of intangible assets as of September 30, 2017 is as follows (in thousands):
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 $7,200 and $6,400 were earned by Solar for the three months ended September 30, 2017 and 2016, respectively. Royalties of approximately $13,700 and $14,700 were earned by Solar for the six months ended September 30, 2017 and 2016, respectively. Earned royalties of approximately $7,200 and $10,000 were unpaid as of September 30, 2017 and March 31, 2017, respectively, and are included in accounts payable and accrued expenses in the accompanying balance sheets. |