NOTE 14 – SEGMENT REPORTING

Segments represent components of an enterprise for which discrete financial information is available that is evaluated regularly by the Company’s chief executive officer, who is the chief operating decision maker, in determining how to allocate resources and in assessing performance. The Company’s reportable segments recognize revenues and incur expenses, are organized in separate business units with different management teams, customers, talents and services, and may include more than one operating segment.

Intersegment revenues and the related cost of revenues are netted against the corresponding amounts of the segment receiving the intersegment services. For the three months ended April 30, 2020 and 2019, intersegment revenues totaled approximately $0.6 million and $0.5 million, respectively.

Summarized below are certain operating results and financial position data of the Company’s reportable business segments for the three months ended April 30, 2020 and 2019. The “Other” column in each summary includes the Company’s corporate expenses.


Three Months Ended	Power		Industrial		Telecom
April 30, 2020	Services		Services		Services		Other		Totals
Revenues	$	48,612	$	9,744	$	1,792	$	—	$	60,148
Cost of revenues		45,710		8,982		1,447		—		56,139
Gross profit		2,902		762		345		—		4,009
Selling, general and administrative expenses		5,928		2,123		488		1,805		10,344
Loss from operations		(3,026)		(1,361)		(143)		(1,805)		(6,335)
Other income, net		1,024		—		—		64		1,088
Loss before income taxes	$	(2,002)	$	(1,361)	$	(143)	$	(1,741)		(5,247)
Income tax benefit										4,454
Net loss									$	(793)

Amortization of intangible assets	$	60	$	165	$	—	$	—	$	225
Depreciation		170		667		99		1		937
Property, plant and equipment additions		380		210		94		—		684

Current assets	$	316,753	$	22,916	$	2,434	$	113,633	$	455,736
Current liabilities		163,674		8,184		793		455		173,106
Goodwill		18,476		9,467		—		—		27,943
Total assets		348,577		46,411		4,013		113,963		512,964


Three Months Ended	Power		Industrial		Telecom
April 30, 2019	Services		Services		Services		Other		Totals
Revenues	$	20,203	$	27,069	$	2,272	$	—	$	49,544
Cost of revenues		44,526		24,271		1,773		—		70,570
Gross (loss) profit		(24,323)		2,798		499		—		(21,026)
Selling, general and administrative expenses		5,646		1,861		511		1,570		9,588
Impairment loss		2,072		—		—		—		2,072
(Loss) income from operations		(32,041)		937		(12)		(1,570)		(32,686)
Other income, net		2,100		—		—		152		2,252
(Loss) income before income taxes	$	(29,941)	$	937	$	(12)	$	(1,418)		(30,434)
Income tax benefit										521
Net loss									$	(29,913)

Amortization of intangible assets	$	87	$	166	$	46	$	—	$	299
Depreciation		168		560		100		1		829
Property, plant and equipment additions		1,062		815		97		11		1,985

Current assets	$	281,759	$	33,315	$	2,893	$	55,194	$	373,161
Current liabilities		52,829		16,909		619		669		71,026
Goodwill		18,476		12,290		—		—		30,766
Total assets		310,354		61,893		4,569		56,345		433,161