CUSTOMER CONCENTRATIONS

12 Months Ended

Jan. 31, 2025

CUSTOMER CONCENTRATIONS

CUSTOMER CONCENTRATIONS

NOTE 16 – CUSTOMER CONCENTRATIONS

The majority of the Company’s consolidated revenues relates to performance by the power industry services segment. The following schedule presents the percentages of consolidated revenues for each reportable business segment for Fiscal 2025, Fiscal 2024, and Fiscal 2023:

	2025			2024			2023
Power industry services		79.3	%		72.6	%		76.0	%
Industrial construction services		19.2			24.9			20.4
Telecommunications infrastructure services		1.5			2.5			3.6

For Fiscal 2025, the Company’s most significant customer relationships included three power industry services customers, which accounted for 28%, 13% and 10% of consolidated revenues. For Fiscal 2024, the Company’s most significant customer relationships included three power industry services customers, which accounted for 19%, 16% and 15% of consolidated revenues. For Fiscal 2023, the Company’s most significant customer relationships included two power industry services customers which accounted for 38% and 12% of consolidated revenues.

The accounts receivable balances from four major customers represented 22%, 16%, 13% and 10% of the corresponding consolidated balance as of January 31, 2025, and accounts receivable balances from three major customers represented 16%, 14% and 14% of the corresponding consolidated balance as of January 31, 2024.

The contract asset balances attributable to four major customers represented 26%, 15%, 15% and 13% of the corresponding consolidated balance as of January 31, 2025, and the contract asset balances attributable to two major customers represented 39% and 32% of the corresponding consolidated balance as of January 31, 2024.