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Balance Sheet
 9 Months Ended
Oct. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet
Balance Sheet
 
 
October 31, 2018
 
January 31, 2018
 
 
(in thousands)
Receivables:
 
 
 
 
Accounts receivable
 
$
16,722

 
$
16,392

Contracts receivable
 
4,358

 
4,921

 
 
21,080

 
21,313

Less long-term portion
 
(532
)
 
(6,934
)
Current accounts and contracts receivable
 
20,548

 
14,379

Less current portion of allowance for doubtful accounts
 
(3,108
)
 
(3,885
)
Current portion of accounts and contracts receivable, net of allowance for doubtful accounts
 
$
17,440

 
$
10,494


Contracts receivable consisted of $4.4 million due from five customers at October 31, 2018 and $4.9 million due from four customers as of January 31, 2018. The balance of contracts receivable at October 31, 2018 and January 31, 2018 consisted of contracts bearing interest at an average rate of approximately 4.3% and 2.2% respectively and with remaining repayment terms from 1 to 40 months. These contracts are related to lease pool equipment sales and are collateralized by the equipment sold.
 
 
October 31, 2018
 
January 31, 2018
 
 
(in thousands)
Inventories:
 
 
 
 
Raw materials
 
$
4,844

 
$
5,099

Finished goods
 
5,916

 
6,185

Work in progress
 
1,987

 
1,247

 
 
12,747

 
12,531

Less allowance for obsolescence
 
(1,068
)
 
(1,675
)
Total inventories, net
 
$
11,679

 
$
10,856


 
 
 
October 31, 2018
 
January 31, 2018
 
 
(in thousands)
Seismic equipment lease pool and property and equipment:
 
 
 
 
Seismic equipment lease pool
 
$
159,312

 
$
174,274

Land and buildings
 
4,021

 
3,380

Furniture and fixtures
 
10,103

 
10,222

Autos and trucks
 
762

 
722

 
 
174,198

 
188,598

Accumulated depreciation and amortization
 
(157,543
)
 
(165,698
)
Total seismic equipment lease pool and property and equipment, net
 
$
16,655

 
$
22,900


As of January 31, 2018, the Company completed an annual review of long-lived assets noting that the undiscounted future cash flows exceeded their carrying value and no impairment has been recorded. Since January 31, 2018 there have been no significant changes to the market, economic or legal environment in which the Company operates that would indicate additional impairment analysis is necessary as of October 31, 2018.