INTANGIBLE ASSETS

3 Months Ended

Apr. 30, 2026

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

The goodwill balances related primarily to the Power and Industrial segments, which were $18.5 million and $9.5 million, respectively, at both April 30, 2026 and January 31, 2026. Management does not believe that any events or circumstances occurred or arose since January 31, 2026, that required an updated assessment of the goodwill balances.

The Company’s intangible assets, other than goodwill, relate primarily to the Industrial segment and consisted of the following as of April 30, 2026 and January 31, 2026:

		April 30, 2026						January 31, 2026
	Estimated	Gross		Accumulated		Net		Gross		Accumulated		Net
	Useful Life	Amounts		Amortization		Amounts		Amounts		Amortization		Amounts
Trade name	15 years	$	4,499	$	3,124	$	1,375	$	4,499	$	3,049	$	1,450

There were no additions to intangible assets during the three months ended April 30, 2026 and 2025, nor were there any impairment losses related to intangible assets during these periods. Amortization expense related to intangible assets for the three months ended April 30, 2026 and 2025 were $0.1 million and $0.1 million respectively.

The following is a schedule of future amounts of amortization related to purchased intangibles:

	Amortization
Years Ending January 31,	Expense
2027 (remainder)	$	225
2028		300
2029		300
2030		300
2031		250
Thereafter		—
Total	$	1,375