Segment Reporting

9 Months Ended

Oct. 31, 2014

Segment Reporting [Abstract]

Segment Reporting

13. Segment Reporting

The Equipment Leasing segment offers new and “experienced” seismic equipment for lease or sale to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. The Equipment Leasing segment is headquartered in Huntsville, Texas, with sales and services offices in Calgary, Canada; Brisbane, Australia; Ufa, Bashkortostan, Russia; Budapest, Hungary; Singapore; Bogota, Colombia; and Lima, Peru.

The Seamap segment is engaged in the design, manufacture and sale of state-of-the-art seismic and offshore telemetry systems. Manufacturing, support and sales facilities are maintained in the United Kingdom and Singapore.

Financial information by business segment is set forth below (net of any allocations):

	As of October 31, 2014			As of January 31, 2014
	Total Assets			Total Assets
	(in thousands)
Equipment Leasing	$	173,702		$	183,911
Seamap		33,882			21,814
Eliminations		(356	)		(306	)
Consolidated	$	207,228		$	205,419

Results for the three months ended October 31, 2014 and 2013 were as follows (in thousands):

	Revenues						Operating (loss) income						(Loss) income before taxes
	2014			2013			2014			2013			2014			2013
Equipment Leasing	$	17,115		$	14,738		$	(188	)	$	(3,398	)	$	(1,071	)	$	(3,733	)
Seamap		5,827			5,608			337			804			686			585
Eliminations		(36	)		(71	)		45			42			45			42
Consolidated	$	22,906		$	20,275		$	194		$	(2,552	)	$	(340	)	$	(3,106	)

Results for the nine months ended October 31, 2014 and 2013 were as follows (in thousands):

	Revenues						Operating income					Income before taxes
	2014			2013			2014			2013		2014			2013
Equipment Leasing	$	48,623		$	52,039		$	(1,737	)	$	1,332	$	(2,303	)	$	1,598
Seamap		20,032			16,584			2,827			2,038		2,906			2,114
Eliminations		(472	)		(162	)		(120	)		135		(120	)		135
Consolidated	$	68,183		$	68,461		$	970		$	3,505	$	483		$	3,847

Sales from the Seamap segment to the Equipment Leasing segment are eliminated in the consolidated revenues. Consolidated income before taxes reflects the elimination of profit from intercompany sales and depreciation expense on the difference between the sales price and the cost to manufacture the equipment. Fixed assets are reduced by the difference between the sales price and the cost to manufacture the equipment, less the accumulated depreciation related to the difference.