Balance Sheet

9 Months Ended

Oct. 31, 2012

Balance Sheet [Abstract]

Balance Sheet

5. Balance Sheet

	October 31, 2012			January 31, 2012
	(in thousands)
Accounts receivable:
Accounts receivable	$	21,940		$	40,179
Allowance for doubtful accounts		(3,313	)		(4,391	)
Total accounts receivable, net	$	18,627		$	35,788
Contracts and notes receivable:
Contracts receivable	$	955		$	2,273
Notes receivable		2,080			—
Less current portion		(2,661	)		(2,273	)
Long-term portion	$	374		$	—

Contracts receivable consisted of $955,000 due from two customers as of October 31, 2012 and $2,273,000 due from two customers as of January 31, 2012. Notes receivable of $2,080,000 at October 31, 2012 relate to promissory notes issued by a customer in settlement of a trade accounts receivable. As of October 31, 2012, these agreements bear interest at an average of approximately 8.7% per year and have remaining repayment terms of 10 to 18 months. These agreements are collateralized by seismic equipment and are considered collectable; thus, no allowances have been established for them.

	October 31, 2012			January 31, 2012
	(in thousands)
Inventories:
Raw materials	$	3,116		$	2,789
Finished goods		4,989			3,711
Work in progress		519			1,109
		8,624			7,609
Less allowance for obsolescence		(1,100	)		(901	)
Total inventories, net	$	7,524		$	6,708

	October 31, 2012			January 31, 2012
	(in thousands)
Seismic equipment lease pool and property and equipment:
Seismic equipment lease pool	$	233,922		$	223,493
Land and buildings		366			366
Furniture and fixtures		8,763			8,020
Autos and trucks		748			680
		243,799			232,559
Accumulated depreciation and amortization		(126,411	)		(112,182	)
Total seismic equipment lease pool and property and equipment, net	$	117,388		$	120,377