Segment Reporting

12 Months Ended

Jan. 31, 2017

Segment Reporting [Abstract]

Segment Reporting

15. Segment Reporting

As of January 31, 2016, in connection with the acquisition of Klein, the company has restructured the composition of its segments to combine the previous Seamap segment, with the newly acquired Klein, and equipment sales operations of SAP into the Equipment Manufacturing and Sales segment. In accordance with ASC 280-10-50, the Company has restated prior year’s financial information to reflect the change in reporting segments.

The Equipment Leasing segment offers for lease or sale, new and “experienced” seismic equipment 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; Singapore; Brisbane, Australia and Ufa, Bashkortostan, Russia.

The Equipment Manufacturing and Sales 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 UK, Singapore and New Hampshire, with sales offices in Huntsville, Texas and Brisbane, Australia.

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

	As of January 31, 2017						As of January 31, 2016						As of January 31, 2015
	Equipment Manufacturing and Sales		Equipment Leasing		Consolidated		Equipment Manufacturing and Sales		Equipment Leasing		Consolidated		Equipment Manufacturing and Sales		Equipment Leasing		Consolidated
Fixed assets, net	$	4,036	$	39,926	$	43,838	$	4,278	$	69,238	$	73,516	$	1,123	$	98,964	$	100,087
Intangible assets, net		9,012		—		9,012		10,466		—		10,466		9,825		1,006		10,831
Goodwill		3,997		—		3,997		4,155		—		4,155		5,594		—		5,594
Total Assets		37,294		57,544		94,714		39,059		95,932		134,759		30,982		148,985		179,611

	Year ended January 31,
	2017												2016												2015
	Equipment Manufacturing and Sales			Equipment Leasing			Corporate expenses			Consolidated			Equipment Manufacturing and Sales			Equipment Leasing			Corporate expenses			Consolidated			Equipment Manufacturing and Sales			Equipment Leasing			Corporate expenses			Consolidated
Revenues	$	25,100		$	15,941			—		$	40,999		$	25,350		$	26,665		$	—		$	51,819		$	30,872		$	52,836		$	—		$	83,146
Interest expense, net		(178	)		(465	)		—			(643	)		(239	)		(486	)		—			(725	)		(125	)		(548	)		—			(673	)
Operating (loss) income		(508	)		(27,782	)		(3,001	)		(31,290	)		279			(23,454	)		(3,702	)		(26,760	)		2,178			(4,922	)		(3,844	)		(6,745	)
Capital expenditures		263			20			—			283			226			2,283			—			2,509			4,026			15,874			—			19,900
Depreciation and amortization expense		2,054			26,221			—			28,275			1,741			30,370			—			32,111			1,514			35,472			—			36,986

Approximately $62,000, $196,000 and $562,000 related to sales from Equipment Manufacturing and Sales to the Equipment Leasing segment is eliminated in the consolidated revenues for the fiscal years ended January 31, 2017, 2016 and 2015, respectively. Capital expenditures and fixed assets are reduced by approximately $6,000 and $192,000 for the fiscal years ended January 31, 2016 and 2015, respectively, which represents the difference between the sales price and the cost to manufacture the equipment.

A reconciliation of operating income is as follows (in thousands):

	Years Ended January 31,
	2017			2016			2015
Equipment Manufacturing and Sales	$	(508	)	$	279		$	2,178
Equipment Leasing		(27,782	)		(23,454	)		(4,922	)
Corporate Expenses		(3,001	)		(3,702	)		(3,844	)
Reconciling items:
Elimination of loss (profit) from inter-company sales		1			117			(157	)
Consolidated operating income	$	(31,290	)	$	(26,760	)	$	(6,745	)