Lease information

12 Months Ended

Jan. 31, 2014

Note 7 - Lease information



Property under capitalized leases	2013	2012
Machinery and equipment	$3,328	$3,325
Transportation equipment	31	42
Computer equipment	92	92
Subtotal	3,451	3,459
Less accumulated amortization	871	546
Total	$2,580	$2,913

Fixed assets acquired under capital leases	$107	$569

The Company has several significant operating lease agreements as follows:


•	Nine acres of land in the Kingdom of Saudi Arabia is leased through 2030 and an additional ten acres of land is leased through 2031.


•	Land for production facilities in the U.A.E of approximately 80,200 square feet is leased until June 30, 2030. Office space and land for production facilities of approximately 37,700 square feet in the U.A.E. is leased until July 2032.


•	Office space of approximately 6,000 square feet in Virginia is leased through August 31, 2015.

At January 31, 2014, future minimum annual rental commitments under non-cancelable lease obligations were as follows:



	Operating Leases	Capital Leases
2014	$2,211	$705
2015	1,567	724
2016	1,378	678
2017	1,274	157
2018	1,243	24
Thereafter	1,526	—
Subtotal	9,199	2,288
Less Amount representing interest		221
Future minimum lease payments	$9,199	$2,067

Rental expense for operating leases was $1.4 million and $2.1 million in 2013 and 2012, respectively

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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