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Segment Reporting
 3 Months Ended
Apr. 30, 2020
Segment Reporting [Abstract]  
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 United Kingdom, Singapore, Malaysia, the states of New Hampshire and Texas. Prior to the sale of SAP in February 2019, we had a facility in Australia. See Note 12 to our condensed consolidated financial statements.

The Equipment Leasing segment offers for lease or sale, new and used seismic equipment to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. The Equipment Leasing segment is headquartered in Texas, with sales and services offices in Canada, Hungary, Singapore and, prior to the sale of MSE in August 2018, Russia. See Note 12 to our condensed consolidated financial statements.
Financial information by business segment is set forth below (net of any allocations):
 
 
 
Total Assets
 
 
As of April 30, 2020
 
As of January 31, 2020
 
 
(in thousands)
Marine technology products
 
$
44,358

 
$
47,211

Equipment leasing
 
6,845

 
11,017

Consolidated
 
$
51,203

 
$
58,228

Results for the three months ended April 30, 2020 and 2019 were as follows (in thousands):
 
 
Revenues
 
Operating (loss) income
 
(Loss) income before taxes
 
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Marine technology products
 
$
3,212

 
$
5,982

 
$
(5,261
)
 
$
(1,161
)
 
$
(5,230
)
 
$
(1,161
)
Equipment leasing
 
4,188

 
3,935

 
(26
)
 
(389
)
 
15

 
(293
)
Corporate expenses
 
—

 
—

 
(880
)
 
(906
)
 
(880
)
 
(906
)
Eliminations
 
(25
)
 
(60
)
 
(13
)
 
—

 
(26
)
 
—

Consolidated
 
$
7,375

 
$
9,857

 
$
(6,180
)
 
$
(2,456
)
 
$
(6,121
)
 
$
(2,360
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Sales from the Marine Technology Products segment to the Equipment Leasing segment are eliminated in consolidated revenues. Consolidated income before taxes reflects the elimination of profit from intercompany sales and depreciation expense on the difference between the sales price and the cost to manufacture the equipment. Fixed assets are reduced by the difference between the sales price and the cost to manufacture the equipment, less the accumulated depreciation related to the difference.