Segment Reporting

9 Months Ended

Oct. 31, 2015

Segment Reporting [Abstract]

Segment Reporting

12. Segment Reporting

The Equipment Leasing segment offers new and “experienced” seismic equipment for lease or sale to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. The Equipment Leasing segment is headquartered in Huntsville, Texas, with sales and services offices in Calgary, Canada; Brisbane, Australia; Ufa, Bashkortostan, Russia; Budapest, Hungary; Singapore; Bogota, Colombia; and Lima, Peru.

The Seamap segment is engaged in the design, manufacture and sale of state-of-the-art seismic and offshore telemetry systems. Manufacturing, support and sales facilities are maintained in the United Kingdom and Singapore.

Financial information by business segment is set forth below (net of any allocations):

	As of October 31, 2015			As of January 31, 2015
	Total Assets			Total Assets
	(in thousands)
Equipment Leasing	$	121,181		$	148,985
Seamap		32,503			30,982
Eliminations		(259	)		(356	)
Consolidated	$	153,425		$	179,611

Results for the three months ended October 31, 2015 and 2014 were as follows (in thousands):

	Revenues						Operating (loss) income						(Loss) income before taxes
	2015			2014			2015			2014			2015			2014
Equipment Leasing	$	5,753		$	17,115		$	(9,015	)	$	(188	)	$	(9,563	)	$	(1,071	)
Seamap		9,975			5,827			3,001			337			2,968			686
Eliminations		(47	)		(36	)		36			45			36			45
Consolidated	$	15,681		$	22,906		$	(5,978	)	$	194		$	(6,559	)	$	(340	)

Results for the nine months ended October 31, 2015 and 2014 were as follows (in thousands):

	Revenues						Operating (loss) income						(Loss) income before taxes
	2015			2014			2015			2014			2015			2014
Equipment Leasing	$	23,150		$	48,623		$	(17,884	)	$	(1,737	)	$	(17,682	)	$	(2,303	)
Seamap		17,363			20,032			2,039			2,827			1,980			2,906
Eliminations		(136	)		(472	)		106			(120	)		106			(120	)
Consolidated	$	40,377		$	68,183		$	(15,739	)	$	970		$	(15,596	)	$	483

Sales from the Seamap segment to the Equipment Leasing segment are eliminated in the consolidated revenues. Consolidated income before taxes reflects the elimination of profit from intercompany sales and depreciation expense on the difference between the sales price and the cost to manufacture the equipment. Fixed assets are reduced by the difference between the sales price and the cost to manufacture the equipment, less the accumulated depreciation related to the difference.