Property, Plant and Equipment

9 Months Ended

Oct. 31, 2013

Property Plant And Equipment [Abstract]

NOTE 7—PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at October 31, 2013 and January 31, 2013 consisted of the following:


	October 31, 2013		January 31, 2013
Land and improvements	$	473,000	$	471,000
Building and improvements		2,709,000		2,587,000
Furniture, machinery and equipment		3,427,000		3,060,000
Trucks and other vehicles		1,596,000		1,803,000
Construction project costs of variable interest entities		—		5,309,000

		8,205,000		13,230,000
Less – accumulated depreciation		4,081,000		3,762,000

Property, plant and equipment, net	$	4,124,000	$	9,468,000

In June 2012, GPS purchased an office building and the underlying land for $1,955,000 cash. The building is large enough to locate the staff of GPS in one facility, and the purchase eliminated the need for leased office space in Connecticut.

Depreciation expense amounts related to continuing operations for property, plant and equipment were approximately $142,000 and $136,000 for the three months ended October 31, 2013 and 2012, respectively, and were approximately $407,000 and $385,000 for the nine months ended October 31, 2013 and 2012, respectively. The costs of maintenance and repairs for continuing operations totaled $83,000 and $92,000 for the three months ended October 31, 2013 and 2012, respectively, and $204,000 and $263,000 for the nine months ended October 31, 2013 and 2012, respectively.

The Company also uses equipment and occupies facilities under non-cancelable operating leases and other rental agreements. Rent included in the selling, general and administrative expenses of continuing operations was $56,000 and $101,000 for the three months ended October 31, 2013 and 2012, respectively, and was $125,000 and $319,000 for the nine months ended October 31, 2013 and 2012, respectively. Rent incurred on construction projects and included in the costs of revenues of continuing operations was $866,000 and $1,465,000 for the three months ended October 31, 2013 and 2012, respectively, and was $2,665,000 and $5,719,000 for the nine months ended October 31, 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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