Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.7.0.1
Property and Equipment
 12 Months Ended
Oct. 02, 2016
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 7 — Property and Equipment

 

A summary of property and equipment at October 2, 2016 and September 27, 2015 is as follows:

 

        (Thousands)  
    Estimated Useful Life   Year Ended
October 2, 2016		     Year Ended
September 27, 2015		  
Property and Equipment                    
Furniture and Fixtures   3-5yrs   $ 356     $ 322  
Machinery and Equipment   5 yrs     3.233       3,247  
Leasehold Improvements   7 yrs     276       276  
Less: Accumulated Depreciation         (2,214 )     (1,874 )
Net Property & Equipment       $ 1,651     $ 1,971  
                     
Depreciation Expense       $ 345     $ 334  

 

During the twelve months ending October 2, 2016, Optex Systems Holdings’ purchased $34 thousand in new furniture and fixtures, and sold machinery and equipment with a net book value of $9 thousand for $4 thousand in proceeds resulting in a loss on asset sales of $5 thousand.