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Income Taxes | 12 Months Ended
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Jan. 31, 2013
Income Taxes [Abstract] |
INCOME TAXES | NOTE 14 – INCOME TAXES As of January 31, 2013, the amount presented in the consolidated balance sheet for accrued expenses included accrued income taxes of approximately $1,362,000. As of January 31, 2012, the amount presented in the consolidated balance sheet for prepaid expenses and other current assets included prepaid income taxes of approximately $1,602,000. The Company’s consolidated balance sheets as of January 31, 2013 and 2012 included net deferred tax assets in the amounts of $1,639,000 and $1,529,000, respectively, resulting from future deductible temporary differences. The Company’s ability to realize its deferred tax assets depends primarily upon the generation of sufficient future taxable income to allow for the utilization of the Company’s deductible temporary differences and tax planning strategies. If such estimates and assumptions change in the future, the Company may be required to record additional valuation allowances against some or all of the deferred tax assets resulting in additional income tax expense in the consolidated statement of operations. At this time, based substantially on the strong earnings performance of the Company’s power industry services business segment, management believes that it is more likely than not that the Company will realize benefit for its deferred tax assets. The tax effects of temporary differences that gave rise to deferred tax assets and liabilities as of January 31, 2013 and 2012 are presented below:
|  | 2013 |  |  | 2012 |
Assets: |  |  |  |  |  |  |  |
Purchased intangibles |  | $ | 1,407,000 |  |  | $ | 1,557,000 |
Stock options |  |  | 1,675,000 |  |  |  | 1,497,000 |
Accrued liabilities |  |  | 855,000 |  |  |  | 695,000 |
Moxie Project net operating losses |  |  | 432,000 |  |  |  | — |
Other |  |  | 144,000 |  |  |  | 228,000 |
|  |  | 4,513,000 |  |  |  | 3,977,000 |
Liabilities: |  |  |  |  |  |  |  |
Purchased intangibles |  |  | 2,258,000 |  |  |  | 1,942,000 |
Property and equipment |  |  | 581,000 |  |  |  | 453,000 |
Other |  |  | 35,000 |  |  |  | 53,000 |
|  |  | 2,874,000 |  |  |  | 2,448,000 |
Net deferred tax assets |  | $ | 1,639,000 |  |  | $ | 1,529,000 |
The components of the Company’s income tax expense related to continuing operations for the years ended January 31, 2013 and 2012 are presented below:
|  | 2013 |  |  | 2012 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 11,555,000 |  |  | $ | 3,771,000 |
State |  |  | 2,224,000 |  |  |  | 836,000 |
|  |  | 13,779,000 |  |  |  | 4,607,000 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | (207,000 | ) |  |  | 41,000 |
State |  |  | 68,000 |  |  |  | (92,000 | )
|  |  | (139,000 | ) |  |  | (51,000 | )
Income tax expense |  | $ | 13,640,000 |  |  | $ | 4,556,000 |
The actual income tax expense amounts for the years ended January 31, 2013 and 2012 differed from the expected tax amounts computed by applying the U.S. federal corporate income tax rate of 35% for the year ended January 31, 2013, and 34% for the year ended January 31, 2012, to income from continuing operations before income taxes as presented below:
|  | 2013 |  |  | 2012 |
Computed “expected” income tax |  | $ | 12,510,000 |  |  | $ | 4,068,000 |
Increase (decrease) resulting from: |  |  |  |  |  |  |  |
State income taxes, net |  |  | 1,459,000 |  |  |  | 460,000 |
Permanent differences |  |  | (730,000 | ) |  |  | (138,000 | )
Federal income tax true-up and other adjustments |  |  | 401,000 |  |  |  | 166,000 |
Income tax expense |  | $ | 13,640,000 |  |  | $ | 4,556,000 |
For the years ended January 31, 2013 and 2012, the favorable tax effects of permanent differences related primarily to the tax benefit of the domestic manufacturing deduction for the years. The Company is subject to income taxes in the United States and in various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no longer subject to federal, state and local income tax examinations by tax authorities for its fiscal years ended on or before January 31, 2009. Tax penalties recorded during the years ended January 31, 2013 and 2012, and included in selling, general and administrative expenses for the years, were not material. Tax interest amounts recorded during the years ended January 31, 2013 and 2012, and included in income tax expense for the years, were not material.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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