Segment Reporting

The Marine Technology Products 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, Malaysia and New Hampshire, with sales offices in Huntsville, Texas and Brisbane, Australia.

The Equipment Leasing segment offers for lease or sale, new and “experienced” seismic equipment to seismic contractors in the oil and gas industry. The Equipment Leasing segment is headquartered in Huntsville, Texas, with sales and services offices in Calgary, Canada; Singapore; and Brisbane, Australia.

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



	As of January 31, 2019						As of January 31, 2018						As of January 31, 2017
	Marine Technology Products		Equipment Leasing		Consolidated		Marine Technology Products		Equipment Leasing		Consolidated		Marine Technology Products		Equipment Leasing		Consolidated
Fixed assets, net	$	4,635	$	9,534	$	14,155	$	3,790	$	19,161	$	22,900	$	4,036	$	39,926	$	43,838
Intangible assets, net	10,417		78		10,495		8,015		—		8,015		9,012		—		9,012
Goodwill	2,531		—		2,531		2,531		—		2,531		3,997		—		3,997
Total Assets	44,832		20,469		65,301		35,879		37,850		73,679		37,294		57,544		94,714



	As of January 31, 2019											As of January 31, 2018												As of January 31, 2017
	Marine Technology Products			Equipment Leasing			Corporate expenses		Consolidated			Marine Technology Products			Equipment Leasing			Corporate expenses			Consolidated			Marine Technology Products			Equipment Leasing			Corporate expenses			Consolidated
Revenues	$	25,768		$	17,383		—		$	42,942		$	27,572		$	20,919		$	—		$	48,276		$	25,100		$	15,941		$	—		$	40,999
Interest expense, net	—			72			—		72			(18		)	65			—			47			(178		)	(465		)	—			(643		)
Operating (loss) income	(3,780		)	(5,872		)	(3,375	)	(13,020		)	(2,572		)	(13,930		)	(3,211		)	(19,708		)	(508		)	(27,782		)	(3,001		)	(31,290		)
Capital expenditures	583			1,948			—		2,531			268			1,048			—			1,316			263			656			—			919
Depreciation and amortization expense	2,418			9,402			—		11,814			1,991			14,652			—			16,637			2,054			26,221			—			28,275

Approximately $209,000, $216,000 and $62,000 related to sales from Marine Technology Products to the Equipment Leasing segment is eliminated in the consolidated revenues for the fiscal years ended January 31, 2019, 2018 and 2017, respectively.

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



	Years Ended January 31,
	2019			2018			2017
Marine Technology Products	$	(3,780	)	$	(2,572	)	$	(508	)
Equipment Leasing	(5,872		)	(13,930		)	(27,782		)
Corporate Expenses	(3,375		)	(3,211		)	(3,001		)
Reconciling items:
Elimination of loss from inter-company sales	7			5			1
Consolidated operating income	$	(13,020	)	$	(19,708	)	$	(31,290	)