INTANGIBLE ASSETS

3 Months Ended

Apr. 30, 2024

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

At both April 30, 2024 and January 31, 2024, the goodwill balances related primarily to the GPS and TRC reporting units, and were $18.5 million and $9.5 million, respectively. Management does not believe that any events or circumstances occurred or arose since January 31, 2024, that required an updated assessment of the goodwill balances of either the GPS or TRC reporting units.

The Company’s intangible assets, other than goodwill, relate primarily to the industrial construction services segment and consisted of the following as of April 30, 2024 and January 31, 2024:

		April 30, 2024						January 31, 2024
	Estimated	Gross		Accumulated		Net		Gross		Accumulated		Net
	Useful Life	Amounts		Amortization		Amounts		Amounts		Amortization		Amounts
Trade name	15 years	$	4,499	$	2,524	$	1,975	$	4,499	$	2,450	$	2,049
Customer relationships	10 years		916		771		145		916		748		168
Totals		$	5,415	$	3,295	$	2,120	$	5,415	$	3,198	$	2,217

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

	Amortization
Years ending January 31,	Expense
2025 (remainder)	$	294
2026		376
2027		300
2028		300
2029		300
Thereafter		550
Total	$	2,120