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SEGMENT REPORTING | 3 Months Ended
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Apr. 30, 2021
SEGMENT REPORTING |
SEGMENT REPORTING | NOTE 14 – 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 the three months ended April 30, 2021 and 2020, intersegment revenues totaled approximately $2.0 million and $0.6 million, respectively. Intersegment revenues for the aforementioned periods primarily related to services provided by the industrial fabrication and field services segment to 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 the three months ended April 30, 2021 and 2020. The “Other” column in each summary includes the Company’s corporate expenses. ​
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Three Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
April 30, 2021 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 97,172 | ​ | $ | 26,658 | ​ | $ | 2,511 | ​ | $ | — | ​ | $ | 126,341
Cost of revenues | ​ |  | 78,669 | ​ |  | 21,969 | ​ |  | 1,989 | ​ |  | — | ​ |  | 102,627
Gross profit | ​ |  | 18,503 | ​ |  | 4,689 | ​ |  | 522 | ​ |  | — | ​ |  | 23,714
Selling, general and administrative expenses | ​ |  | 5,455 | ​ | ​ | 1,882 | ​ | ​ | 486 | ​ | ​ | 2,069 | ​ | ​ | 9,892
Income (loss) from operations | ​ | ​ | 13,048 | ​ | ​ | 2,807 | ​ | ​ | 36 | ​ | ​ | (2,069) | ​ | ​ | 13,822
Other income, net | ​ |  | 710 | ​ |  | — | ​ |  | — | ​ |  | 2 | ​ |  | 712
Income (loss) before income taxes | ​ | $ | 13,758 | ​ | $ | 2,807 | ​ | $ | 36 | ​ | $ | (2,067) | ​ |  | 14,534
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (3,768)
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 10,766
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Amortization of intangibles | ​ | $ | 61 | ​ | $ | 167 | ​ | $ | — | ​ | $ | — | ​ | $ | 228
Depreciation | ​ | ​ | 166 | ​ | ​ | 607 | ​ | ​ | 108 | ​ | ​ | 1 | ​ | ​ | 882
Property, plant and equipment additions | ​ | ​ | 602 | ​ | ​ | 9 | ​ | ​ | 232 | ​ | ​ | 1 | ​ | ​ | 844
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Current assets | ​ | $ | 371,827 | ​ | $ | 27,422 | ​ | $ | 2,433 | ​ | $ | 157,349 | ​ | $ | 559,031
Current liabilities | ​ | ​ | 265,471 | ​ | ​ | 14,796 | ​ | ​ | 1,212 | ​ | ​ | 1,586 | ​ | ​ | 283,065
Goodwill | ​ | ​ | 18,476 | ​ | ​ | 9,467 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 27,943
Total assets | ​ | ​ | 408,442 | ​ | ​ | 47,840 | ​ | ​ | 3,974 | ​ | ​ | 157,716 | ​ | ​ | 617,972
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Three Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
April 30, 2020 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 48,612 | ​ | $ | 9,744 | ​ | $ | 1,792 | ​ | $ | — | ​ | $ | 60,148
Cost of revenues | ​ |  | 45,710 | ​ |  | 8,982 | ​ |  | 1,447 | ​ |  | — | ​ |  | 56,139
Gross profit | ​ |  | 2,902 | ​ |  | 762 | ​ |  | 345 | ​ |  | — | ​ |  | 4,009
Selling, general and administrative expenses | ​ |  | 5,928 | ​ |  | 2,123 | ​ |  | 488 | ​ |  | 1,805 | ​ |  | 10,344
Loss from operations | ​ | ​ | (3,026) | ​ | ​ | (1,361) | ​ | ​ | (143) | ​ | ​ | (1,805) | ​ | ​ | (6,335)
Other income, net | ​ |  | 1,024 | ​ |  | — | ​ |  | — | ​ |  | 64 | ​ |  | 1,088
Loss before income taxes | ​ | $ | (2,002) | ​ | $ | (1,361) | ​ | $ | (143) | ​ | $ | (1,741) | ​ |  | (5,247)
Income tax benefit | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4,454
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (793)
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Amortization of intangibles | ​ | $ | 60 | ​ | $ | 165 | ​ | $ | — | ​ | $ | — | ​ | $ | 225
Depreciation | ​ | ​ | 170 | ​ | ​ | 667 | ​ | ​ | 99 | ​ | ​ | 1 | ​ | ​ | 937
Property, plant and equipment additions | ​ | ​ | 380 | ​ | ​ | 210 | ​ | ​ | 94 | ​ | ​ | — | ​ | ​ | 684
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Current assets | ​ | $ | 316,753 | ​ | $ | 22,916 | ​ | $ | 2,434 | ​ | $ | 113,633 | ​ | $ | 455,736
Current liabilities | ​ | ​ | 163,674 | ​ | ​ | 8,184 | ​ | ​ | 793 | ​ | ​ | 455 | ​ | ​ | 173,106
Goodwill | ​ | ​ | 18,476 | ​ | ​ | 9,467 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 27,943
Total assets | ​ | ​ | 348,577 | ​ | ​ | 46,411 | ​ | ​ | 4,013 | ​ | ​ | 113,963 | ​ | ​ | 512,964
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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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