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CUSTOMER CONCENTRATIONS | 6 Months Ended
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Jul. 31, 2021
CUSTOMER CONCENTRATIONS |
CUSTOMER CONCENTRATIONS | NOTE 13 – CUSTOMER CONCENTRATIONS The majority of the Company’s consolidated revenues relate to performance by the power industry services segment which provided 74% and 79% of consolidated revenues for the three months ended July 31, 2021 and 2020, respectively, and 76% and 80% of consolidated revenues for the six months ended July 31, 2021 and 2020, respectively. The industrial services segment represented 23% and 19% of consolidated revenues for the three months ended July 31, 2021 and 2020, respectively, and 22% and 18% of consolidated revenues for the six months ended July 31, 2021 and 2020, respectively. The Company’s most significant customer relationships for the three months ended July 31, 2021 included one power industry service customer and one industrial services customer, which accounted for 59% and 12% of consolidated revenues, respectively. The Company’s most significant customer relationship for the three months ended July 31, 2020 included one power industry service customer, which accounted for 70% of consolidated revenues. The Company’s most significant customer relationships for the six months ended July 31, 2021 included one power industry service customer and one industrial services customer, which accounted for 63% and 12% of consolidated revenues, respectively. The Company’s most significant customer relationships for the six months ended July 31, 2020 included two power industry service customers, which accounted for 66% and 10% of consolidated revenues, respectively The accounts receivable balances from three major customers represented 17%, 16% and 10% of the corresponding consolidated balance as of July 31, 2021. Accounts receivable balances from three major customers represented 26%, 11% and 11% of the corresponding consolidated balance as of January 31, 2021. The contract asset balances from two major customers represented 65% and 15% of the corresponding consolidated balance as of July 31, 2021. Contract asset balances from two major customers represented 64% and 12% of the corresponding consolidated balance as of January 31, 2021.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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