XML 28 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Reporting
 9 Months Ended
Oct. 31, 2017
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
The Equipment Manufacturing and Sales segment is engaged in the design, manufacture and sale of state-of-the-art sonar, seismic and offshore telemetry systems. Manufacturing, support and sales facilities are maintained in New Hampshire, the United Kingdom and Singapore.
The Equipment Leasing segment offers new and used 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.
Financial information by business segment is set forth below (net of any allocations):
 
 
 
As of October 31, 2017
 
As of January 31, 2017
 
 
Total Assets
 
Total Assets
 
 
(in thousands)
Equipment Manufacturing and Sales
 
$
39,258

 
$
37,294

Equipment Leasing
 
37,602

 
57,544

Eliminations
 
(63
)
 
(124
)
Consolidated
 
$
76,797

 
$
94,714


Results for the three months ended October 31, 2017 and 2016 were as follows (in thousands):
 
 
Revenues
 
Operating loss
 
Income (loss) before taxes
 
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Equipment Manufacturing and Sales
 
$
5,992

 
$
5,251

 
$
(74
)
 
$
(647
)
 
$
4

 
$
(513
)
Equipment Leasing
 
2,730

 
2,806

 
(3,927
)
 
(6,341
)
 
(3,933
)
 
(6,292
)
Corporate expenses
 
—

 
—

 
(792
)
 
(688
)
 
(792
)
 
(688
)
Eliminations
 
(78
)
 
—

 
—

 
(58
)
 
26

 
(65
)
Consolidated
 
$
8,644

 
$
8,057

 
$
(4,793
)
 
$
(7,734
)
 
$
(4,695
)
 
$
(7,558
)
Results for the nine months ended October 31, 2017 and 2016 were as follows (in thousands):
 
 
 
Revenues
 
Operating income (loss)
 
Income (loss) before taxes
 
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Equipment Manufacturing and Sales
 
$
22,565

 
$
18,229

 
$
1,160

 
$
(867
)
 
$
999

 
$
(1,699
)
Equipment Leasing
 
15,546

 
10,258

 
(10,571
)
 
(19,087
)
 
(10,494
)
 
(18,627
)
Corporate expenses
 
—

 
—

 
(2,643
)
 
(2,390
)
 
(2,643
)
 
(2,390
)
Eliminations
 
(198
)
 
(36
)
 
—

 
(36
)
 
—

 
(77
)
Consolidated
 
$
37,913

 
$
28,451

 
$
(12,054
)
 
$
(22,380
)
 
$
(12,138
)
 
$
(22,793
)

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.