SEGMENT REPORTING

3 Months Ended

Apr. 30, 2017

SEGMENT REPORTING

SEGMENT REPORTING

NOTE 14 — SEGMENT REPORTING

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s reportable segments, power industry services, industrial fabrication and field services, and telecommunications infrastructure services, are organized in separate business units with different management teams, customers, technologies and services, and may include more than one operating segment. The intersegment revenues of our operations, and the related cost of revenues, are netted against the corresponding amounts of the segment receiving the intersegment services. For the three months ended April 30, 2017, intersegment revenues totaled approximately $1.7 million; the amount was not material for the three months ended April 30, 2016. Intersegment revenues for the aforementioned periods primarily related to services provided by our industrial fabrication and field services segment to our power industry services segment.

Presented below are summarized operating results and certain financial position data of the Company’s reportable business segments for the three months ended April 30, 2017 and 2016. The “Other” columns include the Company’s corporate and unallocated expenses.

April 30, 2017	Power Services		Industrial Services		Telecom Services		Other			Totals
Revenues	$	210,789	$	16,571	$	3,129	$	—		$	230,489
Cost of revenues	173,248		14,741		2,404		—			190,393
Gross profit	37,541		1,830		725		—			40,096
Selling, general and administrative expenses	5,205		1,645		313		2,326			9,489
Income (loss) from operations	32,336		185		412		(2,326		)	30,607
Other income, net	1,169		—		—		49			1,218
Income (loss) before income taxes	$	33,505	$	185	$	412	$	(2,277	)	31,825
Income tax expense										11,076
Net income										$	20,749
Amortization of intangibles	$	87	$	96	$	—	$	—		$	183
Depreciation	170		335		64		3			572
Property, plant and equipment additions	12		1,694		155		2			1,863
Current assets	$	522,871	$	18,306	$	4,032	$	98,462		$	643,671
Current liabilities	372,849		9,865		1,728		237			384,679
Goodwill	20,548		14,365		—		—			34,913
Total assets	552,134		52,358		5,149		100,285			709,926

April 30, 2016	Power Services		Industrial Services		Telecom Services		Other			Totals
Revenues	$	108,099	$	20,410	$	1,839	$	—		$	130,348
Cost of revenues	83,698		16,988		1,360		—			102,046
Gross profit	24,401		3,422		479		—			28,302
Selling, general and administrative expenses	3,234		1,633		327		1,853			7,047
Income (loss) from operations	21,167		1,789		152		(1,853		)	21,255
Other income, net	14		—		—		23			37
Income (loss) before income taxes	$	21,181	$	1,789	$	152	$	(1,830	)	21,292
Income tax expense										7,172
Net income										$	14,120
Amortization of intangibles	$	147	$	174	$	—	$	—		$	321
Depreciation	132		258		41		3			434
Property, plant and equipment additions	184		22		39		—			245
Current assets	$	287,474	$	23,346	$	5,502	$	83,794		$	400,116
Current liabilities	199,538		16,045		803		1,960			218,346
Goodwill	22,526		14,287		—		—			36,813
Total assets	318,248		57,613		6,073		86,045			467,979