Note 4 - Assets Held for Sale and Discontinued Operations

6 Months Ended

Jul. 31, 2023

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

4. Assets Held for Sale and Discontinued Operations

On July 27, 2020, the Board determined to exit the Leasing Business. As a result, the assets, excluding cash, and liabilities of the Leasing Business were considered held for sale and its results of operations were reported as discontinued operations through the fiscal year ended January 31, 2023. As of February 1, 2023, discontinued operations of the Leasing Business were considered materially completed.

The results of operations from discontinued operations for the three and six months ended July 31, 2023 and 2022 consist of the following:

	For the Three Months Ended July 31,					For the Six Months Ended July 31,
	2023		2022			2023		2022
Revenues:	(in thousands)
Revenue from discontinued operations	$	—	$	—		$	—	$	—
Cost of sales:
Cost of discontinued operations		—		23			—		48
Operating expenses:
Selling, general and administrative		—		101			—		214
Total operating expenses		—		101			—		214
Operating loss		—		(124	)		—		(262	)
Other (expense) income		—		(38	)		—		486
(Loss) income before income taxes from discontinued operations		—		(162	)		—		224
Net (loss) income from discontinued operations		—		(162	)		—		224

The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below:

	For the Six Months Ended July 31,
	2023		2022
	(in thousands)
Gross profit from sale of assets held-for-sale	$	—	$	(358	)
Sale of assets held for sale	$	—	$	361