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CUSTOMER CONCENTRATIONS
3 Months Ended
Apr. 30, 2022
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 77% of consolidated revenues for the three months ended April 30, 2022 and 2021, respectively. The industrial services segment represented 22% and 21% of consolidated revenues for the three months ended April 30, 2022 and 2021, respectively.

The Company’s most significant customer relationship for the three months ended April 30, 2022 included one power industry service customer, which accounted for 48% of consolidated revenues. The Company’s most significant customer relationship for the three months ended April 30, 2021 included one power industry service customer, which accounted for 68% of consolidated revenues.

The accounts receivable balances from three major customers represented 18%, 13% and 10% of the corresponding consolidated balance as of April 30, 2022. Accounts receivable balances from three major customers represented 22%, 15% and 12% of the corresponding consolidated balance as of January 31, 2022. The contract asset balance related to one major customer represented 29% of the corresponding consolidated balance as of April 30, 2022. Contract asset balances from two major customers represented 31% and 13% of the corresponding consolidated balance as of January 31, 2022.