Significant accounting policies Investment in joint venture (Tables)

12 Months Ended

Jan. 31, 2016

Investment in joint venture [Abstract]

Schedule of Equity Method Investments [Table Text Block]

Investment in joint venture. In October 2009, the Company invested $5.9 million, which consisted of $2.0 million for a 49% interest and $3.9 million for a note receivable, in a Canadian joint venture with The Bayou Companies, Inc., a subsidiary of Aegion Corporation. The joint venture operates in Camrose, Alberta, Canada. During the first six months of 2015, the Company received $1.9 million in principal repayments on the note receivable.

On December 31, 2015, MFRI entered into a purchase agreement with its joint venture partner Aegion Corporation to acquire 100% ownership of BPPC, which acquisition closed on February 4, 2016. The purchase price was approximately $9.6 million in cash and debt at closing and is subject to certain post-closing adjustments.

The Company accounts for the investment in joint venture using the equity method. The financial results are included in the Company's consolidated financial statements.

	2015	2014
Share of income from joint venture	$602	$1,960

The following information summarizes the joint venture financial data:

	2015	2014
Current assets	$8,274	$13,820
Noncurrent assets	12,284	14,023
Current liabilities	2,438	4,499
Noncurrent liabilities	3,908	9,013
Equity	14,212	14,331
Revenue	22,228	40,397
Gross profit	3,465	8,451
Income from continuing operations	1,938	6,397
Net income	1,228	4,000