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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jul. 31, 2011
Jul. 31, 2010
Jul. 31, 2011
Jul. 31, 2010
Revenues:        
Equipment leasing $ 12,272 $ 6,493 $ 29,047 $ 16,059
Lease pool equipment sales 326 159 661 522
Seamap equipment sales 6,534 7,200 14,883 12,981
Other equipment sales 2,146 1,303 3,189 2,093
Total revenues 21,278 15,155 47,780 31,655
Cost of sales:        
Direct costs - equipment leasing 1,826 846 3,983 1,590
Direct costs - lease pool depreciation 6,703 5,355 12,793 10,267
Cost of lease pool equipment sales 107 100 204 249
Cost of Seamap and other equipment sales 4,429 4,199 8,662 7,951
Total cost of sales 13,065 10,500 25,642 20,057
Gross profit 8,213 4,655 22,138 11,598
Operating expenses:        
General and administrative 5,794 4,162 10,442 8,349
Provision for (recovery of) doubtful accounts (492) 797 (492) 797
Depreciation and amortization 312 296 617 575
Total operating expenses 5,614 5,255 10,567 9,721
Operating income (loss) 2,599 (600) 11,571 1,877
Other (expenses) income:        
Gain from bargain purchase in business combination       1,304
Interest, net (95) (118) (270) (212)
Other, net (336) 437 (672) (65)
Total other (expenses) income (431) 319 (942) 1,027
Income (loss) before income taxes 2,168 (281) 10,629 2,904
(Provision) benefit for income taxes (868) 135 (3,236) (656)
Net income (loss) $ 1,300 $ (146) $ 7,393 $ 2,248
Net income (loss) per common share:        
Basic $ 0.12 $ (0.01) $ 0.71 $ 0.23
Diluted $ 0.11 $ (0.01) $ 0.67 $ 0.22
Shares used in computing net income per common share:        
Basic 10,970 9,838 10,447 9,824
Diluted 11,615 9,838 11,043 10,081