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, and Huntsville, Texas.

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 and Singapore.

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



	As of January 31, 2020						As of January 31, 2019						As of January 31, 2018
	Marine Technology Products		Equipment Leasing		Consolidated		Marine Technology Products		Equipment Leasing		Consolidated		Marine Technology Products		Equipment Leasing		Consolidated
Fixed assets, net	$	4,791	$	8,986	$	13,777	$	4,635	$	9,534	$	14,155	$	3,790	$	19,161	$	22,900
Intangible assets, net	8,048		113		8,161		10,417		78		10,495		8,015		—		8,015
Goodwill	2,531		—		2,531		2,531		—		2,531		2,531		—		2,531
Total Assets	47,211		11,017		58,228		44,832		20,469		65,301		35,879		37,850		73,679



	As of January 31, 2020											As of January 31, 2019												As of January 31, 2018
	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	$	29,572		$	13,213		—		$	42,675		$	25,768		$	17,383		$	—		$	42,942		$	27,572		$	20,919		$	—		$	48,276
Interest expense, net	1			(47		)	—		(46		)	—			72			—			72			(18		)	65			—			47
Operating loss	(2,259		)	(4,667		)	(3,471	)	(10,375		)	(3,780		)	(5,872		)	(3,375		)	(13,020		)	(2,572		)	(13,930		)	(3,211		)	(19,708		)
Capital expenditures	894			3,097			—		3,991			583			1,948			—			2,531			268			1,048			—			1,316
Depreciation and amortization expense	2,649			5,141			—		7,768			2,418			9,402			—			11,814			1,991			14,652			—			16,637

Approximately $110,000, $209,000 and $216,000 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, 2020, 2019 and 2018, respectively.

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



	Years Ended January 31,
	2020			2019			2018
Marine Technology Products	$	(2,259	)	$	(3,780	)	$	(2,572	)
Equipment Leasing	(4,667		)	(5,872		)	(13,930		)
Corporate Expenses	(3,471		)	(3,375		)	(3,211		)
Reconciling items:
Elimination of loss from inter-company sales	22			7			5
Consolidated operating income	$	(10,375	)	$	(13,020	)	$	(19,708	)