6. Balance Sheet


	October 31, 2014			January 31, 2014
	(in thousands)
Accounts receivable:
Accounts receivable	$	34,136		$	33,347
Allowance for doubtful accounts		(3,706	)		(3,833	)

Total accounts receivable, net	$	30,430		$	29,514

Contracts receivable consisted of $849,000, due from two customers as of October 31, 2014 and $1,005,000 due from three customers as of January 31, 2014. Notes receivable of $2,800,000 at October 31, 2014 relate to promissory notes issued by a customer in settlement of a trade account receivable. The balance of contracts and notes receivable at October 31, 2014 and January 31, 2014 consisted of contracts and notes bearing interest at an average of approximately 2.1% and with remaining repayment terms of one to 13 months. These contracts are collateralized by equipment and are considered collectable; therefore, no allowances have been established for them.


	October 31, 2014			January 31, 2014
	(in thousands)
Inventories:
Raw materials	$	5,827		$	4,599
Finished goods		5,649			4,159
Work in progress		529			612

		12,005			9,370
Less allowance for obsolescence		(847	)		(1,032	)

Total inventories, net	$	11,158		$	8,338

In May of 2014, the Company acquired $3.6 million of inventory in connection with the purchase of two product lines from ION. See Note 4 to our consolidated financial statements.


	October 31, 2014			January 31, 2014
	(in thousands)
Seismic equipment lease pool and property and equipment:
Seismic equipment lease pool	$	260,352		$	261,644
Land and buildings		366			366
Furniture and fixtures		9,765			8,904
Autos and trucks		768			770

		271,251			271,684
Accumulated depreciation and amortization		(158,448	)		(142,111	)

Total seismic equipment lease pool and property and equipment, net	$	112,803		$	129,573