| Segment Reporting |
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 | ) |
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