Segment Reporting

6 Months Ended

Jul. 31, 2016

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; and Bogota, Colombia.

The Equipment Manufacturing and Sales 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 New Hampshire, the United Kingdom and Singapore.

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

	As of July 31, 2016			As of January 31, 2016
	Total Assets			Total Assets
	(in thousands )
Equipment Leasing	$	76,570		$	95,932
Equipment Manufacturing and Sales		37,578			39,059
Eliminations		(297	)		(232	)
Consolidated	$	113,851		$	134,759

Results for the three months ended July 31, 2016 and 2015 were as follows (in thousands):

	Revenues						Operating Loss						Loss before taxes
	2016			2015			2016			2015			2016			2015
Equipment Leasing	$	2,909		$	4,811		$	(7,077	)	$	(7,200	)	$	(7,552	)	$	(7,152	)
Equipment Manufacturing and Sales		5,758			2,787			(421	)		(740	)		(734	)		(629	)
Corporate expenses		—			—			(832	)		(897	)		(832	)		(897	)
Eliminations		(4	)		(44	)		15			33			27			33
Consolidated	$	8,663		$	7,554		$	(8,315	)	$	(8,804	)	$	(9,091	)	$	(8,645	)

Results for the six months ended July 31, 2016 and 2015 were as follows (in thousands):

	Revenues						Operating loss						Loss before taxes
	2016			2015			2016			2015			2016			2015
Equipment Leasing	$	7,452		$	16,347		$	(12,746	)	$	(7,232	)	$	(12,335	)	$	(6,483	)
Equipment Manufacturing and Sales		12,978			8,462			(219	)		(698	)		(1,186	)		(723	)
Corporate expenses		—			—			(1,702	)		(1,877	)		(1,702	)		(1,877	)
Eliminations		(36	)		(113	)		21			46			(12	)		46
Consolidated	$	20,394		$	24,696		$	(14,646	)	$	(9,761	)	$	(15,235	)	$	(9,037	)

Sales from the Equipment Manufacturing and Sales segment to the Equipment Leasing Segment are eliminated in 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.