Segment Reporting

3 Months Ended

Apr. 30, 2015

Segment Reporting [Abstract]

Segment Reporting

12. 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 April 30, 2015			As of January 31, 2015
	Total Assets			Total Assets
	(in thousands)
Equipment Leasing	$	146,151		$	148,985
Seamap		32,489			30,982
Eliminations		(323	)		(356	)
Consolidated	$	178,317		$	179,611

Results for the three months ended April 30, 2015 and 2014 were as follows (in thousands):

	Revenues						Operating (loss) income						(Loss) income before taxes
	2015			2014			2015			2014			2015			2014
Equipment Leasing	$	12,076		$	19,672		$	(881	)	$	3,278		$	(179	)	$	3,523
Seamap		5,115			6,197			(109	)		1,500			(246	)		1,329
Eliminations		(49	)		(137	)		33			(6	)		33			(6	)
Consolidated	$	17,142		$	25,732		$	(957	)	$	4,772		$	(392	)	$	4,846

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.