Note 5 - Income Taxes	6 Months Ended
Jul. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5 - Income taxes The determination of the consolidated provision for income taxes, deferred tax assets and liabilities and related valuation allowances requires management to make judgments and estimates. As a company with subsidiaries in foreign jurisdictions, the process of calculating income taxes involves estimating current tax obligations and exposures in each jurisdiction as well as making judgments regarding the future recoverability of deferred tax assets. Income earned in the United Arab Emirates is not subject to local country income tax. Additionally, the relative proportion of taxable income earned domestically versus internationally can fluctuate significantly from period to period. Changes in the estimated level of annual pre-tax income, tax laws and the results of tax audits can affect the overall effective income tax rate, which impacts the level of income tax expense and net income. Judgments and estimates related to the Company's projections and assumptions are inherently uncertain; therefore, actual results could differ materially from projections. The Company's effective tax rate ("ETR") from operations for the second quarter and year-to-date was ( 7.6 )% and 2.1% compared to 176.0% and ( 74 )% during the respective prior year periods. The change in the ETR from the prior year quarter to the current year quarter is largely due to the fact that the Company is in a positive year to date operating income position in certain taxable jurisdictions with a full valuation allowance and a negative ETR, and in operating loss positions in certain zero -rate jurisdictions. The amount of unrecognized tax benefits, including interest and penalties, at July 31, 2019, recorded in other long-term liabilities was $0.1 million, all of which would impact the Company’s ETR if recognized. The U.S. Tax Cuts and Jobs Act ("Tax Act") was enacted on December 22, 2017 and introduced significant changes to U.S. income tax law. The Tax Act reduced the U.S. statutory tax rate from 35% to 21%, effective January 1, 2018 and created new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the global intangible low-taxed income tax ("GILTI") and the base erosion anti-abuse tax, respectively. The Company currently does not project a GILTI inclusion for the year, but even if the Company were to end up with an inclusion, it would have no impact on tax expense due to its offset by loss carryovers with a full valuation allowance applied against it.

Note

- Income taxes

The determination of the consolidated provision for income taxes, deferred tax assets and liabilities and related valuation allowances requires management to make judgments and estimates. As a company with subsidiaries in foreign jurisdictions, the process of calculating income taxes involves estimating current tax obligations and exposures in each jurisdiction as well as making judgments regarding the future recoverability of deferred tax assets. Income earned in the United Arab Emirates is

not

subject to local country income tax. Additionally, the relative proportion of taxable income earned domestically versus internationally can fluctuate significantly from period to period. Changes in the estimated level of annual pre-tax income, tax laws and the results of tax audits can affect the overall effective income tax rate, which impacts the level of income tax expense and net income. Judgments and estimates related to the Company's projections and assumptions are inherently uncertain; therefore, actual results could differ materially from projections.

The Company's effective tax rate ("ETR") from operations for the

second

quarter and year-to-date was (

7.6

)% and

2.1%

compared to

176.0%

and (

)% during the respective prior year periods. The change in the ETR from the prior year quarter to the current year quarter is largely due to the fact that the Company is in a positive year to date operating income position in certain taxable jurisdictions with a full valuation allowance and a negative ETR, and in operating loss positions in certain

zero

-rate jurisdictions.

The amount of unrecognized tax benefits, including interest and penalties, at

July 31, 2019,

recorded in other long-term liabilities was

$0.1

million, all of which would impact the Company’s ETR if recognized.

The U.S. Tax Cuts and Jobs Act ("Tax Act") was enacted on

December 22, 2017

and introduced significant changes to U.S. income tax law. The Tax Act reduced the U.S. statutory tax rate from

35%

21%,

effective

January 1, 2018

and created new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the global intangible low-taxed income tax ("GILTI") and the base erosion anti-abuse tax, respectively. The Company currently does

not

project a GILTI inclusion for the year, but even if the Company were to end up with an inclusion, it would have

impact on tax expense due to its offset by loss carryovers with a full valuation allowance applied against it.