Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.8.0.1
Property and Equipment
 12 Months Ended
Oct. 01, 2017
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 5 — Property and Equipment

 

A summary of property and equipment at October 1, 2017 and October 2, 2016 is as follows:

 

        (Thousands)  
    Estimated Useful Life   Year Ended
October 1, 2017		     Year Ended
October 2, 2016		  
Property and Equipment                    
Furniture and Fixtures   3-5yrs   $ 368     $ 356  
Machinery and Equipment   5 yrs     3,364       3,233  
Leasehold Improvements   7 yrs     276       276  
Less: Accumulated Depreciation         (2,548 )     (2,214 )
Net Property & Equipment       $ 1,460     $ 1,651  
                     
Depreciation Expense       $ 337     $ 345  

 

During the twelve months ending October 1, 2017, Optex Systems Holdings’ purchased $12 thousand and $137 thousand in new furniture and fixtures and new machinery and equipment, respectively, and sold machinery and equipment with a net book value of $3 thousand for $41 thousand in proceeds resulting in a gain on asset sales of $38 thousand.