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, talents and services, and may include more than one operating segment.

Intersegment revenues 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, 2018 and 2017, intersegment revenues totaled approximately $0.1 million and $1.7 million, respectively. Intersegment revenues for the aforementioned periods related to services provided by the industrial fabrication and field services segment to the power industry services segment and are based on prices negotiated by the parties. 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, 2018 and 2017. The “Other” column in each summary includes the Company’s corporate and unallocated expenses.

Three Months Ended April 30, 2018	Power Services		Industrial Services			Telecom Services			Other			Totals
Revenues	$	122,487	$	16,449		$	2,430		$	—		$	141,366
Cost of revenues	108,296		15,649			1,969			—			125,914

Gross profit	14,191		800			461			—			15,452
Selling, general and administrative expenses	5,232		1,835			462			2,108			9,637

Income (loss) from operations	8,959		(1,035		)	(1		)	(2,108		)	5,815
Other income, net	675		—			—			89			764

Income (loss) before income taxes	$	9,634	$	(1,035	)	$	(1	)	$	(2,019	)	6,579

Income tax expense												1,737

Net income												$	4,842


Amortization of purchased intangible assets	$	87	$	166		$	—		$	—		$	253

Depreciation	176		513			79			3			771

Property, plant and equipment additions	826		2,564			300			1			3,691


Current assets	$	365,569	$	23,598		$	3,380		$	73,085		$	465,632

Current liabilities	147,694		15,989			1,115			515			165,313

Goodwill	20,548		13,781			—			—			34,329

Total assets	393,932		53,698			4,862			73,386			525,878

Three Months Ended 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 purchased intangible assets	$	87	$	96	$	—	$	—		$	183

Depreciation	170		335		64		3			572

Property, plant and equipment additions	12		1,694		155		2			1,863


Goodwill	$	20,548	$	14,365	$	—	$	—		$	34,913

Total assets (1)	506,952		49,420		4,700		100,285			661,357

(1)

The amount of total assets for each segment has been recast to conform to the presentation as of April 30, 2018.