CUSTOMER CONCENTRATIONS

12 Months Ended

Jan. 31, 2020

CUSTOMER CONCENTRATIONS

CUSTOMER CONCENTRATIONS

NOTE 17 – CUSTOMER CONCENTRATIONS

The majority of the Company’s consolidated revenues relate to performance by the power industry services segment which provided 57%,  76% and 91% of consolidated revenues for Fiscal 2020, 2019 and 2018, respectively.

For Fiscal 2020, the Company’s most significant customer relationships included two power industry service customers which accounted for 22%  and 15% of consolidated revenues, respectively. For Fiscal 2019, the Company’s most significant customer relationships included four power industry service customers which accounted for 16%,  14%,  12% and 10% of consolidated revenues, respectively. For Fiscal 2018, the Company’s most significant customer relationships included four power industry service customers which accounted for 29%,  26%,  15% and 14% of consolidated revenues, respectively.

Invoiced amounts retained by three project owners were $6.5 million, $5.9 million and $4.0 million as of January 31, 2020, respectively, which in the aggregate represented 82% of the total customer retention amount at that date. Amounts retained by five project owners were $5.8 million, $4.5 million, $1.6 million, $1.3 million and $1.0 million as of January 31, 2019, respectively, which in the aggregate represented 93% of the total customer retention amount at that date.

The accounts receivable balances from three major customers represented 24%, 21% and 12% of the corresponding consolidated balance as of January 31, 2020, and accounts receivable balances from two major customers represented 25% and 15% of the corresponding consolidated balance as of January 31, 2019.