SEGMENT REPORTING

3 Months Ended

Apr. 30, 2023

SEGMENT REPORTING

SEGMENT REPORTING

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, 2023 and 2022, intersegment revenues were not material.

Summarized below are certain operating results and financial position data of the Company’s reportable business segments for the three months ended April 30, 2023 and 2022. The “Other” column in each summary includes the Company’s corporate expenses.

Three Months Ended	Power		Industrial		Telecom
April 30, 2023	Services		Services		Services		Other		Totals
Revenues	$	70,176	$	30,307	$	3,192	$	—	$	103,675
Cost of revenues		60,335		26,562		2,554		—		89,451
Gross profit		9,841		3,745		638		—		14,224
Selling, general and administrative expenses		5,714		1,460		703		2,714		10,591
Income (loss) from operations		4,127		2,285		(65)		(2,714)		3,633
Other income (loss), net		2,090		—		—		(2,719)		(629)
Income (loss) before income taxes	$	6,217	$	2,285	$	(65)	$	(5,433)		3,004
Income tax expense										895
Net income									$	2,109
Amortization of intangibles	$	—	$	98	$	—	$	—	$	98
Depreciation		128		304		114		1		547
Property, plant and equipment additions		389		256		—		—		645
Current assets	$	303,596	$	43,946	$	3,985	$	73,474	$	425,001
Current liabilities		160,564		29,226		1,172		1,435		192,397
Goodwill		18,476		9,467		90		—		28,033
Total assets		330,736		61,421		7,071		76,466		475,694

Three Months Ended	Power		Industrial		Telecom
April 30, 2022	Services		Services		Services		Other		Totals
Revenues	$	73,949	$	22,501	$	3,827	$	—	$	100,277
Cost of revenues		59,035		18,680		2,824		—		80,539
Gross profit		14,914		3,821		1,003		—		19,738
Selling, general and administrative expenses		5,615		1,759		765		2,436		10,575
Income (loss) from operations		9,299		2,062		238		(2,436)		9,163
Other income, net		584		—		2		9		595
Income (loss) before income taxes	$	9,883	$	2,062	$	240	$	(2,427)		9,758
Income tax expense										2,273
Net income									$	7,485
Amortization of intangibles	$	—	$	166	$	—	$	—	$	166
Depreciation		142		544		122		1		809
Property, plant and equipment additions		52		151		35		—		238
Current assets	$	329,779	$	27,872	$	3,565	$	86,375	$	447,591
Current liabilities		170,684		12,362		1,685		1,543		186,274
Goodwill		18,476		9,467		90		—		28,033
Total assets		353,570		45,379		7,245		86,616		492,810