Accounts and Contracts Receivables

12 Months Ended

Jan. 31, 2017

6. Accounts and Contracts Receivables

Accounts and contracts receivables consisted of the following (in thousands):


	As of January 31,
	2017			2016
Accounts receivable	$	21,762		$	27,691
Contracts receivable		2,752			2,877

		24,514			30,568
Less long-term portion		(4,968	)		(4,972	)

Current accounts and contracts receivable		19,546			25,596
Less current portion of allowance for doubtful accounts		(3,716	)		(3,633	)

Current portion of accounts and contracts receivable, net of allowance for doubtful accounts	$	15,830		$	21,963

Contracts receivable consisted of $2.8 million and $2.9 million, due from three customers as of January 31, 2017 and 2016, respectively. The balance of contracts receivable at January 31, 2017 and 2016 consisted of contracts bearing interest at an average rate of approximately 2.2% and 2.4% respectively and with remaining repayment terms from one to 40 months. These contracts are collateralized by the equipment sold. As of January 31, 2016, the Company has entered into structured payment arrangements with four customers, which extend the payment of their accounts and contracts receivable balances resulting in long-term accounts receivable with two customers totaling $3.7 million and long-term contracts receivable with two customers totaling $1.3 million. Payments terms for long-term receivables are structured to be completed by the end of fiscal 2020.