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Balance Sheet
3 Months Ended
Apr. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet
Balance Sheet

 
As of April 30, 2019
 
As of January 31, 2019
 
Current
 
Long-term
 
Total
 
Current
 
Long-term
 
Total
Accounts receivable
$
14,401

 
$
465

 
$
14,866

 
$
14,195

 
$
712

 
$
14,907

Less allowance for doubtful accounts
(2,113
)
 

 
(2,113
)
 
(2,113
)
 

 
(2,113
)
Accounts receivable net of allowance for doubtful accounts
$
12,288

 
$
465

 
$
12,753

 
$
12,082

 
$
712

 
$
12,794


As of April 30, 2019, the Company has structured payment agreements with two customers totaling $2.6 million and $3.0 million due from three customers as of January 31, 2019. Payments expected to be received in more than one year have been classified as long-term receivables and total $465,000. The structured payment agreements bear interest at an average rate of approximately 3.1% and 3.6% as of April 30, 2019 and January 31, 2019, respectively. The remaining repayment terms range from four to 33 months.
 
 
April 30, 2019
 
January 31, 2019
 
 
(in thousands)
Inventories:
 
 
 
 
Raw materials
 
$
5,705

 
$
5,446

Finished goods
 
4,948

 
5,229

Work in progress
 
1,679

 
1,322

 
 
12,332

 
11,997

Less allowance for obsolescence
 
(1,089
)
 
(1,223
)
Total inventories, net
 
$
11,243

 
$
10,774


 
 
 
April 30, 2019
 
January 31, 2019
 
 
(in thousands)
Seismic equipment lease pool and property and equipment:
 
 
 
 
Seismic equipment lease pool
 
$
144,991

 
$
147,519

Land and buildings
 
4,047

 
4,041

Furniture and fixtures
 
10,087

 
9,897

Autos and trucks
 
569

 
571

 
 
159,694

 
162,028

Accumulated depreciation and amortization
 
(146,857
)
 
(147,873
)
Total seismic equipment lease pool and property and equipment, net
 
$
12,837

 
$
14,155


As of January 31, 2019, 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, 2019 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 April 30, 2019.