Incredimail 2010 Annual Report Download - page 103
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INCREDIMAIL LTD AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Company rents its facilities under an operating lease agreement with an initial term expiring in November 2011, with an
option for additional two years.
Future minimum lease commitments under non-cancelable operating leases are $554,000 as of December 31, 2010.
Total rent expenses for the years ended December 31, 2008, 2009 and 2010 amounted to $678,000, $448,000 and $503,000,
respectively.
The Company leases its motor vehicles under cancelable operating lease agreements. The minimum payment under these
operating leases, upon cancellation of these lease agreements amounted to $43,000 as of December 31, 2010. Total lease
expenses for the years ended December 31, 2008, 2009 and 2010 amounted to, $556,000, $382,000 and $395,000, respectively.
NOTE 6:
-
OTHER INTANGIBLE ASSETS, NET
a.
Composition:
December 31,
2009
2010
U.S. dollars in
thousands
Original amounts:
Capitalized software development costs
$
76
$
-
Capitalized content costs
233
413
Domain
35
35
344
448
Accumulated amortization
210
246
Other intangible assets, net
$
134
202
b.
Amortization expense amounted to $80,000, $90,000 and $112,000 for the years ended December 31, 2008, 2009 and
2010, respectively.
c.
Estimated amortization expense is expected to be $101,000, $77,000 and $24,000 in the years ending December 31, 2011,
2012 and 2013, respectively.
NOTE 7:
-
ACCRUED EXPENSES AND OTHER LIABILITIES
December 31,
2009
2010
U.S. dollars in thousands
Employees and payroll accruals
$
1,794
$
1,827
Current Severance pay
-
287
Government authorities
2,835
2,523
Deferred tax liabilities, net
1,342
996
Accrued expenses
606
573
$
6,577
$
6,206
NOTE 8:
-
COMMITMENTS AND CONTINGENT LIABILITIES
F
-
20