6.	Balance Sheet


	July 31, 2014			January 31, 2014
	(in thousands)
Accounts receivable:
Accounts receivable	$	33,342		$	33,347
Allowance for doubtful accounts		(3,825	)		(3,833	)

Total accounts receivable, net		29,517		$	29,514

Contracts and notes receivable consisted of $904,000, due from three customers as of July 31, 2014 and $1,005,000 due from three customers as of January 31, 2014. The balance of contracts receivable at July 31, 2014 and January 31, 2014 consisted of contracts bearing interest at an average of approximately 8.6% and with remaining repayment terms from one to two months. These contracts are collateralized by the equipment sold and are considered collectable, thus no allowances have been established for them.


	July 31, 2014			January 31, 2014
	(in thousands)
Inventories:
Raw materials	$	6,371		$	4,599
Finished goods		5,376			4,159
Work in progress		1,092			612

		12,839			9,370
Less allowance for obsolescence		(1,111	)		(1,032	)

Total inventories, net	$	11,728		$	8,338

In May of 2014, the Company acquired $3.6 million of inventory in connection with the purchase of two product lines from ION. See Note 4 to our consolidated financial statements.


	July 31, 2014			January 31, 2014
	(in thousands)
Seismic equipment lease pool and property and equipment:
Seismic equipment lease pool	$	264,354		$	261,644
Land and buildings		366			366
Furniture and fixtures		9,869			8,904
Autos and trucks		791			770

		275,380			271,684
Accumulated depreciation and amortization		(153,278	)		(142,111	)

Total seismic equipment lease pool and property and equipment, net	$	122,102		$	129,573