Property and Equipment

9 Months Ended

Oct. 31, 2011

NOTE 7 — PROPERTY AND EQUIPMENT

Property and equipment at October 31, 2011 and January 31, 2011 consisted of the following:


	October 31,			January 31,
	2011			2011
Leasehold improvements	$	208,000		$	208,000
Machinery and equipment		2,565,000			2,511,000
Trucks and other vehicles		1,817,000			1,738,000

		4,590,000			4,457,000
Less — accumulated depreciation		(3,322,000	)		(2,979,000	)

Property and equipment, net	$	1,268,000		$	1,478,000

Depreciation expense amounts related to continuing operations for property and equipment were $112,000 and $133,000 for the three months ended October 31, 2011 and 2010, respectively, and were $344,000 and $430,000 for the nine months ended October 31, 2011 and 2010, respectively. The costs of maintenance and repairs for continuing operations totaled $89,000 and $108,000 for the three months ended October 31, 2011 and 2010, respectively, and $208,000 and $360,000 for the nine months ended October 31, 2011 and 2010, respectively.

The Company also uses equipment and occupies facilities under non-cancelable operating leases and other rental agreements. It incurred total rent expense for continuing operations in the amounts of $1,203,000 and $1,507,000 for the three months ended October 31, 2011 and 2010, respectively, and $1,829,000 and $5,278,000 for the nine months ended October 31, 2011 and 2010, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details