Note 1 - Business Information

12 Months Ended

Jan. 31, 2021

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Note

1

- Business information

Perma-Pipe International Holdings, Inc.

("PPIH", the "Company", or the "Registrant") was incorporated in Delaware on

October 

12,

1993.

The Company is engaged in the manufacture and sale of products in

one

distinct segment: Piping Systems.

Fiscal year.

The Company's fiscal year ends on

January 31.

Years, results and balances described as 

2020

and

2019

are the fiscal years ended

January 31, 2021

and

2020

, respectively.

Nature of business.

The Company engineers, designs, manufactures and sells specialty piping systems, and leak detection systems. Specialty piping systems include: (i) insulated and jacketed district heating and cooling ("DHC") piping systems for efficient energy distribution from central energy plants to multiple locations, (ii) primary and secondary containment piping systems for transporting chemicals, hazardous fluids and petroleum products, and (iii) the coating and/or insulation of oil and gas gathering and transmission pipelines. The Company's leak detection systems are sold with its piping systems or on a stand-alone basis, to monitor areas where fluid intrusion

may

contaminate the environment, endanger personal safety, cause a fire hazard, impair essential services or damage equipment or property.

Geographic information.

Net sales attributed to a geographic area are based on the destination of the product shipment. Sales to foreign customers were

49.8%

in 

2020

compared to

55.6%

in

2019

. Long-lived assets are based on the physical location of the assets and consist of property, plant and equipment used in the generation of revenues in the geographic area.

(In thousands)	2020		2019
Net sales
United States	$	42,527	$	56,702
Canada		12,367		22,203
Middle East		23,662		26,505
Europe		118		17,462
India		1,942		4,180
Other		4,078		611
Total net sales	$	84,694	$	127,663
Property, plant and equipment, net of accumulated depreciation
United States	$	7,672	$	9,063
Canada		10,592		11,554
Middle East		7,854		7,815
India		779		197
Total property, plant and equipment, net of accumulated depreciation	$	26,897	$	28,629