Note 1 - Business Information

12 Months Ended

Jan. 31, 2022

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 2021 and 2020 are the fiscal years ended January 31, 2022 and 2021, 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 66.2% in 2021 compared to 49.8% in 2020. 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)	2021		2020
Net sales
United States	$	46,770	$	42,527
Canada		28,302		12,367
Middle East/North Africa		51,543		23,662
Europe		194		118
India		11,101		1,942
Other		642		4,078
Total net sales	$	138,552	$	84,694
Property, plant and equipment, net of accumulated depreciation
United States	$	6,415	$	7,672
Canada		9,750		10,592
Middle East/North Africa		7,595		7,854
India		996		779
Total property, plant and equipment, net of accumulated depreciation	$	24,756	$	26,897