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SEGMENT REPORTING | 12 Months Ended
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Jan. 31, 2020
SEGMENT REPORTING |
SEGMENT REPORTING | NOTE 16 – SEGMENT REPORTING Segments represent components of an enterprise for which discrete financial information is available that is evaluated regularly by the Company’s chief executive officer, who is the chief operating decision maker, in determining how to allocate resources and in assessing performance. The Company’s reportable segments recognize revenues and incur expenses, 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 Fiscal 2020, 2019 and 2018, intersegment revenues totaled approximately $3.3 million, $0.8 million and $2.2 million, respectively. Intersegment revenues for the aforementioned periods primarily related to services provided between the industrial fabrication and field services segment and the power industry services segment and were based on prices negotiated by the parties. Summarized below are certain operating results and financial position data of the Company’s reportable business segments for Fiscal 2020, 2019 and 2018. The “Other” column in each summary includes the Company’s corporate expenses.
Year Ended January 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
|  | Power |  | Industrial |  | Telecom |  |  |  |
|  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues |  | $ | 135,729 |  | $ | 94,682 |  | $ | 8,586 |  | $ | — |  | $ | 238,997
Cost of revenues |  |  | 152,854 |  |  | 85,859 |  |  | 7,104 |  |  | — |  |  | 245,817
Gross (loss) profit |  |  | (17,125) |  |  | 8,823 |  |  | 1,482 |  |  | — |  |  | (6,820)
Selling, general and administrative expenses |  |  | 26,835 |  |  | 7,810 |  |  | 2,135 |  |  | 7,345 |  |  | 44,125
Impairment losses |  |  | 2,072 |  |  | 2,823 |  |  | — |  |  | — |  |  | 4,895
Loss from operations |  |  | (46,032) |  |  | (1,810) |  |  | (653) |  |  | (7,345) |  |  | (55,840)
Other income, net |  |  | 7,535 |  |  | — |  |  | — |  |  | 540 |  |  | 8,075
Loss before income taxes |  | $ | (38,497) |  | $ | (1,810) |  | $ | (653) |  | $ | (6,805) |  |  | (47,765)
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,053
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (40,712)
Depreciation |  | $ | 694 |  | $ | 2,418 |  | $ | 396 |  | $ | 5 |  | $ | 3,513
Amortization of intangibles |  |  | 291 |  |  | 664 |  |  | 181 |  |  | — |  |  | 1,136
Property, plant and equipment additions |  |  | 5,069 |  |  | 1,638 |  |  | 340 |  |  | 11 |  |  | 7,058
Current assets |  | $ | 320,257 |  | $ | 21,766 |  | $ | 2,938 |  | $ | 76,794 |  | $ | 421,755
Current liabilities |  |  | 135,518 |  |  | 6,441 |  |  | 796 |  |  | 1,279 |  |  | 144,034
Goodwill |  |  | 18,476 |  |  | 9,467 |  |  | — |  |  | — |  |  | 27,943
Total assets |  |  | 352,034 |  |  | 46,321 |  |  | 4,549 |  |  | 84,636 |  |  | 487,540
Year Ended January 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
|  | Power |  | Industrial |  | Telecom |  |  |  |
|  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues |  | $ | 367,812 |  | $ | 101,673 |  | $ | 12,668 |  | $ | — |  | $ | 482,153
Cost of revenues |  |  | 297,931 |  |  | 92,097 |  |  | 9,687 |  |  | — |  |  | 399,715
Gross profit |  |  | 69,881 |  |  | 9,576 |  |  | 2,981 |  |  | — |  |  | 82,438
Selling, general and administrative expenses |  |  | 23,741 |  |  | 7,904 |  |  | 1,788 |  |  | 7,277 |  |  | 40,710
Impairment loss |  |  | — |  |  | 1,491 |  |  | — |  |  | — |  |  | 1,491
Income (loss) from operations |  |  | 46,140 |  |  | 181 |  |  | 1,193 |  |  | (7,277) |  |  | 40,237
Other income, net |  |  | 5,120 |  |  | 1,400 |  |  | — |  |  | 461 |  |  | 6,981
Income (loss) before income taxes |  | $ | 51,260 |  | $ | 1,581 |  | $ | 1,193 |  | $ | (6,816) |  |  | 47,218
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,651
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 51,869
Depreciation |  | $ | 749 |  | $ | 2,293 |  | $ | 366 |  | $ | 14 |  | $ | 3,422
Amortization of intangibles |  |  | 350 |  |  | 662 |  |  | — |  |  | — |  |  | 1,012
Property, plant and equipment additions |  |  | 3,156 |  |  | 4,750 |  |  | 690 |  |  | 3 |  |  | 8,599
Current assets |  | $ | 317,708 |  | $ | 28,878 |  | $ | 3,691 |  | $ | 66,071 |  | $ | 416,348
Current liabilities |  |  | 66,085 |  |  | 13,384 |  |  | 879 |  |  | 968 |  |  | 81,316
Goodwill |  |  | 20,548 |  |  | 12,290 |  |  | — |  |  | — |  |  | 32,838
Total assets |  |  | 347,189 |  |  | 57,168 |  |  | 5,272 |  |  | 67,019 |  |  | 476,648
Year Ended January 31, 2018 |  |  |  |  |  |  |  |  |  |  |
|  | Power |  | Industrial |  | Telecom |  |  |  |  |
|  | Services |  | Services |  | 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
Goodwill |  | $ | 20,548 |  | $ | 13,781 |  | $ | — |  | $ | — |  | $ | 34,329
Total assets |  |  | 432,932 |  |  | 44,849 |  |  | 4,873 |  |  | 60,015 |  |  | 542,669

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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