INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2024

INCOME TAXES

Schedule of Income Tax Expense (Benefit)

	Years Ended
	January 31,
Domestic and Foreign Pretax Income (Loss)	2024		2023
Domestic	$	8,648	$	15,322
Foreign		708		(9,851	)
Total	$	9,356	$	5,471

	Years Ended
	January 31,
	2024			2023
Income Tax Expense (Benefit)
Current:
Federal	$	17		$	2
State and other taxes		58			68
Foreign		4,674			3,450
Total Current Tax Expense	$	4,749		$	3,520
Deferred:
Domestic	($186)			($756)
Foreign		(633	)		834
Total Deferred Tax Expense		(819	)	$	78
Total Income Taxes	$	3,930		$	3,598

Schedule of effective income tax rate reconciliation

	Years Ended January 31,
	2024			2023
Statutory rate		21.00	%		21.00	%
State Income Taxes, Net of Federal Tax Benefit		0.49	%		0.05	%
Adjustment to Deferred		(23.26	)%		13.54	%
GILTI		9.07	%		24.84	%
Foreign Tax Credit – GILTI		(2.42	)%		(14.86	)%
Section 250 Deduction		(4.92	)%		(15.74	)%
Permanent Differences		0.20	%		0.07	%
Valuation Allowance-Deferred Tax Asset		33.29	%		6.41	%
Foreign Tax Credit		(15.24	)%		(9.74	)%
Section 78 Gross-up		0.77	%		6.64	%
Argentina Flow Through Loss		7.20	%		1.09	%
Withholding Taxes		5.72	%		36.55	%
Foreign Rate Differential		18.25	%		2.11	%
Change in State Apportionment Rate		(1.48	)%		(1.38	)%
Foreign employee benefits		(1.58	)%		(3.58	)%
Foreign Dividends Paid to U.S.		25.69	%		73.01	%
Foreign Dividends Received Deduction		(25.69	)%		(73.01	)%
Earnout Adjustment		(5.70	)%		---
Other		0.62	%		(1.25	)%
Effective Rate		42.01	%		65.74	%

Schedule of deferred tax assets

	Years Ended January 31,
	2024			2023
Deferred tax assets:
Inventories	$	1,545		$	1,147
US tax loss carryforwards, including work opportunity credit		167			186
Accounts receivable and accrued rebates		295			278
Accrued compensation and other		441			123
India reserves - US deduction		24			22
Equity based compensation		346			1,178
Foreign tax credit carry-forward		4,548			3,123
State and local carry-forwards		1,256			18
Depreciation and amortization		(1,846	)		(155	)
Prepaid expenses		(253	)		(175	)
Right-of-use asset		(1,590	)		(697	)
Operating lease liability		1,672			732
Foreign carry-forwards		1,102			438
Withholding taxes		(383	)		(769	)
Other		351			107
Deferred tax asset		7,675			5,556
Less valuation allowance		(6,675	)		(3,561	)
Net deferred tax asset	$	1,000		$	1,995

Schedule of Balance sheet classification

	January 31,
Balance sheet classification	2024		2023
Long-term deferred tax asset	$	3,097	$	2,764
Long-term deferred tax liability	$	2,097	$	769

Schedule of income tax benefit carryforward

	Gross Carryforward		Benefit Amount		Valuation Allowance			Expiration Beginning In
State operating loss carryforwards	$	20,132	$	1,256	$	(1,025	)	2028
Foreign tax credit carryforwards				4,548		(4,548	)	2025
Federal credit carryforwards				167		-		2035
Mexico operating loss carryforwards	$	1,199		360		(360	)	2033
Chile operating loss carryforwards	$	2,414		652		(652	)	Indefinite
UK operating loss carryforwards	$	361		90		(90	)	Indefinite
Total			$	7,073	$	(6,675	)