NOTE 14 – SEGMENT REPORTING

Segments represent components of an enterprise for which discrete financial information is available that is evaluated regularly by the Company’s chief executive officer, who is the chief operating decision maker, in determining how to allocate resources and in assessing performance. The Company’s reportable segments recognize revenues and incur expenses, 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, 2019, intersegment revenues totaled approximately $0.5 million. For the three months ended April 30, 2018, intersegment revenues were not significant.

Summarized below are certain operating results and financial position data of the Company’s reportable business segments for the three months ended April 30, 2019 and 2018. The “Other” column in each summary includes the Company’s corporate expenses:


Three Months Ended	Power		Industrial		Telecom
April 30, 2019	Services		Services		Services		Other		Totals
Revenues	$	20,203	$	27,069	$	2,272	$	—	$	49,544
Cost of revenues		44,526		24,271		1,773		—		70,570
Gross (loss) profit		(24,323)		2,798		499		—		(21,026)
Selling, general and administrative expenses		5,646		1,861		511		1,570		9,588
Impairment loss		2,072		—		—		—		2,072
(Loss) income from operations		(32,041)		937		(12)		(1,570)		(32,686)
Other income, net		2,100		—		—		152		2,252
(Loss) income loss before income taxes	$	(29,941)	$	937	$	(12)	$	(1,418)		(30,434)
Income tax benefit										521
Net loss									$	(29,913)

Amortization of purchased intangible assets	$	87	$	166	$	46	$	—	$	299
Depreciation		168		560		100		1		829
Property, plant and equipment additions		1,062		815		97		11		1,985

Current assets	$	281,759	$	33,315	$	2,893	$	55,194	$	373,161
Current liabilities		52,829		16,909		619		669		71,026
Goodwill		18,476		12,290		—		—		30,766
Total assets		310,354		61,893		4,569		56,345		433,161


Three Months Ended	Power		Industrial		Telecom
April 30, 2018	Services		Services		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