SEGMENT REPORTING

9 Months Ended

Oct. 31, 2017

SEGMENT REPORTING

SEGMENT REPORTING

NOTE 15 — 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, talents 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 and nine months ended October 31, 2017, intersegment revenues totaled approximately $0.2 million and $1.8 million, respectively. For the three and nine months ended October 31, 2016, intersegment revenues were insignificant. Intersegment revenues for the aforementioned periods 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 and nine months ended October 31, 2017 and 2016. The “Other” column in each summary includes the Company’s corporate and unallocated expenses.

Three Months Ended October 31, 2017	Power Services		Industrial Services		Telecom Services		Other			Totals
Revenues	$	212,493	$	16,574	$	3,878	$	—		$	232,945
Cost of revenues	178,472		13,797		2,958		—			195,227
Gross profit	34,021		2,777		920		—			37,718
Selling, general and administrative expenses	5,464		1,638		452		2,565			10,119
Income (loss) from operations	28,557		1,139		468		(2,565		)	27,599
Other income, net	1,623		—		—		69			1,692
Income (loss) before income taxes	$	30,180	$	1,139	$	468	$	(2,496	)	29,291
Income tax expense										12,062
Net income										$	17,229
Amortization of purchased intangible assets	$	87	$	171	$	—	$	—		$	258
Depreciation	226		425		71		4			726
Property, plant and equipment additions	476		463		265		—			1,204
Current assets	$	488,122	$	17,549	$	4,008	$	74,116		$	583,795
Current liabilities	280,538		9,546		1,525		707			292,316
Goodwill	20,548		14,365		—		—			34,913
Total assets	515,783		46,854		5,242		74,422			642,301

Three Months Ended October 31, 2016	Power Services		Industrial Services		Telecom Services		Other			Totals
Revenues	$	151,094	$	21,550	$	2,800	$	—		$	175,444
Cost of revenues	118,407		18,386		2,073		—			138,866
Gross profit	32,687		3,164		727		—			36,578
Selling, general and administrative expenses	6,391		1,410		316		1,731			9,848
Income (loss) from operations	26,296		1,754		411		(1,731		)	26,730
Other income, net	654		—		—		36			690
Income (loss) before income taxes	$	26,950	$	1,754	$	411	$	(1,695	)	27,420
Income tax expense										8,194
Net income										$	19,226
Amortization of purchased intangible assets	$	135	$	97	$	—	$	—		$	232
Depreciation	169		302		51		3			525
Property, plant and equipment additions	101		481		286		—			868
Current assets	$	410,143	$	19,269	$	2,649	$	67,909		$	499,970
Current liabilities	275,052		13,336		1,006		1,139			290,533
Goodwill	20,548		14,365		—		—			34,913
Total assets	435,208		50,363		3,297		69,975			558,843

Nine Months Ended October 31, 2017	Power Services		Industrial Services		Telecom Services		Other			Totals
Revenues	$	662,131	$	50,203	$	10,903	$	—		$	723,237
Cost of revenues	540,986		44,634		8,396		—			594,016
Gross profit	121,145		5,569		2,507		—			129,221
Selling, general and administrative expenses	16,804		5,041		1,163		7,400			30,408
Income (loss) from operations	104,341		528		1,344		(7,400		)	98,813
Other income, net	4,043		—		—		178			4,221
Income (loss) before income taxes	$	108,384	$	528	$	1,344	$	(7,222	)	103,034
Income tax expense										37,738
Net income										$	65,296
Amortization of purchased intangible assets	$	262	$	514	$	—	$	—		$	776
Depreciation	580		1,144		202		10			1,936
Property, plant and equipment additions	691		2,800		513		2			4,006

Nine Months Ended October 31, 2016	Power Services		Industrial Services		Telecom Services		Other			Totals
Revenues	$	402,615	$	59,287	$	6,385	$	—		$	468,287
Cost of revenues	302,140		52,491		4,764		—			359,395
Gross profit	100,475		6,796		1,621		—			108,892
Selling, general and administrative expenses	13,688		4,532		944		5,265			24,429
Impairment loss	1,979		—		—		—			1,979
Income (loss) from operations	84,808		2,264		677		(5,265		)	82,484
Other income, net	1,192		—		—		91			1,283
Income (loss) before income taxes	$	86,000	$	2,264	$	677	$	(5,174	)	83,767
Income tax expense										27,122
Net income										$	56,645
Amortization of purchased intangible assets	$	385	$	367	$	—	$	—		$	752
Depreciation	459		841		135		9			1,444
Property, plant and equipment additions	944		1,082		453		2			2,481