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SEGMENT REPORTING | 6 Months Ended
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Jul. 31, 2023
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 and six months ended July 31, 2023 and 2022, intersegment revenues were not material. Summarized below are certain operating results and financial position data of the Company’s reportable business segments for the three and six months ended July 31, 2023 and 2022. The “Other” column in each summary includes the Company’s corporate expenses. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
July 31, 2023 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 105,345 | ​ | $ | 32,756 | ​ | $ | 3,248 | ​ | $ | — | ​ | $ | 141,349
Cost of revenues | ​ |  | 87,094 | ​ |  | 28,076 | ​ |  | 2,437 | ​ |  | — | ​ |  | 117,607
Gross profit | ​ |  | 18,251 | ​ |  | 4,680 | ​ |  | 811 | ​ |  | — | ​ |  | 23,742
Selling, general and administrative expenses | ​ | ​ | 5,596 | ​ | ​ | 1,446 | ​ | ​ | 727 | ​ | ​ | 2,732 | ​ | ​ | 10,501
Income (loss) from operations | ​ | ​ | 12,655 | ​ | ​ | 3,234 | ​ | ​ | 84 | ​ | ​ | (2,732) | ​ | ​ | 13,241
Other income (loss), net | ​ |  | 3,607 | ​ |  | — | ​ |  | (3) | ​ |  | 514 | ​ |  | 4,118
Income (loss) before income taxes | ​ | $ | 16,262 | ​ | $ | 3,234 | ​ | $ | 81 | ​ | $ | (2,218) | ​ |  | 17,359
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4,592
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 12,767
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 98 | ​ | $ | — | ​ | $ | — | ​ | $ | 98
Depreciation | ​ | ​ | 128 | ​ | ​ | 260 | ​ | ​ | 99 | ​ | ​ | 1 | ​ | ​ | 488
Property, plant and equipment additions | ​ | ​ | 148 | ​ | ​ | 220 | ​ | ​ | 18 | ​ | ​ | — | ​ | ​ | 386
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | $ | 319,196 | ​ | $ | 45,590 | ​ | $ | 4,273 | ​ | $ | 86,073 | ​ | $ | 455,132
Current liabilities | ​ | ​ | 183,405 | ​ | ​ | 28,996 | ​ | ​ | 1,717 | ​ | ​ | 1,488 | ​ | ​ | 215,606
Goodwill | ​ | ​ | 18,476 | ​ | ​ | 9,467 | ​ | ​ | 90 | ​ | ​ | — | ​ | ​ | 28,033
Total assets | ​ | ​ | 346,192 | ​ | ​ | 63,074 | ​ | ​ | 7,264 | ​ | ​ | 89,178 | ​ | ​ | 505,708
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
July 31, 2022 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 91,327 | ​ | $ | 23,022 | ​ | $ | 3,761 | ​ | $ | — | ​ | $ | 118,110
Cost of revenues | ​ |  | 71,225 | ​ |  | 19,551 | ​ |  | 2,947 | ​ |  | — | ​ |  | 93,723
Gross profit | ​ |  | 20,102 | ​ |  | 3,471 | ​ |  | 814 | ​ |  | — | ​ |  | 24,387
Selling, general and administrative expenses | ​ |  | 6,058 | ​ | ​ | 1,685 | ​ | ​ | 808 | ​ | ​ | 2,433 | ​ |  | 10,984
Income (loss) from operations | ​ | ​ | 14,044 | ​ | ​ | 1,786 | ​ | ​ | 6 | ​ | ​ | (2,433) | ​ | ​ | 13,403
Other income (loss), net | ​ |  | 437 | ​ |  | — | ​ |  | (1) | ​ |  | 69 | ​ |  | 505
Income (loss) before income taxes | ​ | $ | 14,481 | ​ | $ | 1,786 | ​ | $ | 5 | ​ | $ | (2,364) | ​ |  | 13,908
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 9,686
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 4,222
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 165 | ​ | $ | 68 | ​ | $ | — | ​ | $ | 233
Depreciation | ​ | ​ | 138 | ​ | ​ | 508 | ​ | ​ | 100 | ​ | ​ | 1 | ​ | ​ | 747
Property, plant and equipment additions | ​ | ​ | 42 | ​ | ​ | 336 | ​ | ​ | 22 | ​ | ​ | — | ​ | ​ | 400
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | $ | 258,771 | ​ | $ | 31,960 | ​ | $ | 4,745 | ​ | $ | 82,717 | ​ | $ | 378,193
Current liabilities | ​ | ​ | 124,320 | ​ | ​ | 15,055 | ​ | ​ | 1,991 | ​ | ​ | 646 | ​ | ​ | 142,012
Goodwill | ​ | ​ | 18,476 | ​ | ​ | 9,467 | ​ | ​ | 90 | ​ | ​ | — | ​ | ​ | 28,033
Total assets | ​ | ​ | 282,783 | ​ | ​ | 49,097 | ​ | ​ | 8,198 | ​ | ​ | 82,992 | ​ | ​ | 423,070
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
July 31, 2023 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 175,521 | ​ | $ | 63,063 | ​ | $ | 6,440 | ​ | $ | — | ​ | $ | 245,024
Cost of revenues | ​ |  | 147,429 | ​ |  | 54,638 | ​ |  | 4,991 | ​ |  | — | ​ |  | 207,058
Gross profit | ​ |  | 28,092 | ​ |  | 8,425 | ​ |  | 1,449 | ​ |  | — | ​ |  | 37,966
Selling, general and administrative expenses | ​ |  | 11,310 | ​ | ​ | 2,906 | ​ | ​ | 1,430 | ​ | ​ | 5,446 | ​ | ​ | 21,092
Income (loss) from operations | ​ | ​ | 16,782 | ​ | ​ | 5,519 | ​ | ​ | 19 | ​ | ​ | (5,446) | ​ | ​ | 16,874
Other income (loss), net | ​ |  | 5,697 | ​ |  | — | ​ |  | (3) | ​ |  | (2,205) | ​ |  | 3,489
Income (loss) before income taxes | ​ | $ | 22,479 | ​ | $ | 5,519 | ​ | $ | 16 | ​ | $ | (7,651) | ​ |  | 20,363
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 5,487
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 14,876
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 196 | ​ | $ | — | ​ | $ | — | ​ | $ | 196
Depreciation | ​ | ​ | 256 | ​ | ​ | 564 | ​ | ​ | 213 | ​ | ​ | 2 | ​ | ​ | 1,035
Property, plant and equipment additions | ​ | ​ | 537 | ​ | ​ | 476 | ​ | ​ | 18 | ​ | ​ | — | ​ | ​ | 1,031
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
July 31, 2022 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 165,276 | ​ | $ | 45,523 | ​ | $ | 7,588 | ​ | $ | — | ​ | $ | 218,387
Cost of revenues | ​ |  | 130,260 | ​ |  | 38,231 | ​ |  | 5,771 | ​ |  | — | ​ |  | 174,262
Gross profit | ​ |  | 35,016 | ​ |  | 7,292 | ​ |  | 1,817 | ​ |  | — | ​ |  | 44,125
Selling, general and administrative expenses | ​ |  | 11,673 | ​ | ​ | 3,444 | ​ | ​ | 1,573 | ​ | ​ | 4,869 | ​ | ​ | 21,559
Income (loss) from operations | ​ | ​ | 23,343 | ​ | ​ | 3,848 | ​ | ​ | 244 | ​ | ​ | (4,869) | ​ | ​ | 22,566
Other income, net | ​ |  | 1,021 | ​ |  | — | ​ |  | 1 | ​ |  | 78 | ​ |  | 1,100
Income (loss) before income taxes | ​ | $ | 24,364 | ​ | $ | 3,848 | ​ | $ | 245 | ​ | $ | (4,791) | ​ |  | 23,666
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 11,959
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 11,707
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 331 | ​ | $ | 68 | ​ | $ | — | ​ | $ | 399
Depreciation | ​ | ​ | 280 | ​ | ​ | 1,052 | ​ | ​ | 222 | ​ | ​ | 2 | ​ | ​ | 1,556
Property, plant and equipment additions | ​ | ​ | 94 | ​ | ​ | 487 | ​ | ​ | 57 | ​ | ​ | — | ​ | ​ | 638
​

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