NOTE 18 — SEGMENT REPORTING

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s reportable segments, power industry services, industrial fabrication and field services, and telecommunications infrastructure services, are organized in separate business units with different management teams, customers, talents and services, and may include more than one operating segment.

Intersegment revenues and the related cost of revenues, are netted against the corresponding amounts of the segment receiving the intersegment services. For the years ended January 31, 2018 and 2017, intersegment revenues totaled approximately $2.2 million and $1.0 million, respectively. For the year ended January 31, 2016, intersegment revenues were insignificant. Intersegment revenues for the aforementioned periods related to services provided by the industrial fabrication and field services segment to the power industry services segment and are based on prices negotiated by the parties.

Presented below are summarized operating results and certain financial position data of the Company’s reportable business segments for the years ended January 31, 2018, 2017 and 2016. The “Other” column in each summary includes the Company’s corporate and unallocated expenses.

Year Ended January 31, 2018

	Power Services		Industrial Services			Telecom Services		Other			Totals
Revenues	$	814,544	$	65,303		$	12,968	$	—		$	892,815
Cost of revenues	675,362		58,283			9,845		—			743,490
Gross profit	139,182		7,020			3,123		—			149,325
Selling, general and administrative expenses	23,356		7,401			1,395		9,612			41,764
Impairment loss	—		584			—		—			584

Income (loss) from operations	115,826		(965		)	1,728		(9,612		)	106,977
Other income, net	5,391		—			—		257			5,648

Income (loss) before income taxes	$	121,217	$	(965	)	$	1,728	$	(9,355	)	112,625

Income tax expense											40,279

Net income											$	72,346


Depreciation	$	885	$	1,607		$	274	$	13		$	2,779

Amortization of intangibles	350		682			—		—			1,032

Property, plant and equipment additions	1,362		2,837			625		2			4,826


Current assets	$	465,730	$	16,651		$	3,672	$	59,698		$	545,751

Current liabilities	233,385		9,013			758		830			243,986

Goodwill	20,548		13,781			—		—			34,329

Total assets	493,576		44,868			4,934		60,015			603,393

Year Ended January 31, 2017

	Power Services		Industrial Services		Telecom Services		Other			Totals
Revenues	$	586,628	$	78,994	$	9,425	$	—		$	675,047
Cost of revenues	452,599		68,354		7,383		—			528,336
Gross profit	134,029		10,640		2,042		—			146,711
Selling, general and administrative expenses	17,588		6,264		1,430		7,196			32,478
Impairment loss	1,979		—		—		—			1,979

Income (loss) from operations	114,462		4,376		612		(7,196		)	112,254
Other income, net	2,145		—		—		133			2,278

Income (loss) before income taxes	$	116,607	$	4,376	$	612	$	(7,063	)	114,532

Income tax expense										37,106

Net income										$	77,426


Depreciation	$	665	$	1,165	$	201	$	12		$	2,043

Amortization of intangibles	350		813		—		—			1,163

Property, plant and equipment additions	1,005		1,238		563		5			2,811


Goodwill	$	20,548	$	14,365	$	—	$	—		$	34,913

Total assets	488,431		47,316		4,318		104,423			644,488

Year Ended January 31, 2016

	Power		Industrial			Telecom
	Services		Services			Services		Other			Totals
Revenues	$	387,636	$	15,260		$	10,379	$	—		$	413,275
Cost of revenues	290,823		15,527			7,460		—			313,810
Gross profit	96,813		(267		)	2,919		—			99,465
Selling, general and administrative expenses	15,303		1,151			1,323		7,283			25,060

Income (loss) from operations	81,510		(1,418		)	1,596		(7,283		)	74,405
Other income, net	827		—			—		274			1,101

Income (loss) before income taxes	$	82,337	$	(1,418	)	$	1,596	$	(7,009	)	75,506

Income tax expense											25,302

Net income											$	50,204


Depreciation	$	433	$	172		$	162	$	12		$	779

Amortization of intangibles	415		116			—		—			531

Property, plant and equipment additions	2,985		28			100		5			3,118


Goodwill	$	22,525	$	14,880		$	—	$	—		$	37,405

Total assets	274,627		52,436			1,885		80,843			409,791