Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v2.4.0.8
Property and Equipment, net
 9 Months Ended
Sep. 30, 2014
Property and Equipment, net [Abstract]  
Property and Equipment, net

7 - Property and Equipment, net

Property and equipment, net consist of the following (in thousands):

 

September 30, 2014

December 31, 2013

 

 

 

Land

$3,097

$4,152

Buildings

6,907

10,269

Leasehold improvements

1,978

2,796

Office furniture and equipment

12,733

10,820

Computer software and hardware

8,557

10,250

Demonstration and loaned equipment

10,641

9,470

Assets held for sale

1,352

--

 

45,265

47,757

Accumulated depreciation and amortization

(25,920)

(24,462)

Total

$19,345

$23,295

 

Depreciation and amortization expense of property and equipment was approximately $1.0 million and $3.4 million for the three and nine months ended September 30, 2014, respectively, and was approximately $1.2 and $3.5 million for the three and nine months ended September 30, 2013, respectively.

In the third quarter of 2014 our manufacturing facility in Mundelein, Illinois was listed for sale and adjusted to fair market value less cost to sell. During the fourth quarter of 2013 we began transitioning the manufacturing operations from the Mundelein facility to our facilities in Seattle, Washington and British Columbia, Canada as well as outsourcing some of the operations in preparation for this sale. This effort is part of Natus’ continuing cost reduction and restructuring activities.