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CUSTOMER CONCENTRATIONS | 6 Months Ended
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Jul. 31, 2023
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 75% and 77% of consolidated revenues for the three months ended July 31, 2023 and 2022, respectively, and 72% and 76% of consolidated revenues for the six months ended July 31, 2023 and 2022, respectively. The industrial construction services segment represented 23% and 20% of consolidated revenues for the three months ended July 31, 2023 and 2022, respectively, and 26% and 21% of consolidated revenues for the six months ended July 31, 2023 and 2022, respectively. The Company’s most significant customer relationships for the three months ended July 31, 2023 included three power industry service customers, which accounted for 21%, 20%, and 12% of consolidated revenues. The Company’s most significant customer relationships for the three months ended July 31, 2022 included two power industry service customers, which accounted for 47% and 10% of consolidated revenues. The Company’s most significant customer relationships for the six months ended July 31, 2023 included three power industry service customers and one industrial construction services customer, which accounted for 19%, 17%, 11% and 11% of consolidated revenues. The Company’s most significant customer relationship for the six months ended July 31, 2022 included one power industry service customer, which accounted for 47% of consolidated revenues. The accounts receivable balances from three major customers represented 35%, 15% and 10% of the corresponding consolidated balance as of July 31, 2023. Accounts receivable balances from three major customers represented 36%, 12% and 12% of the corresponding consolidated balance as of January 31, 2023. The contract asset balances from three major customers represented 30%, 15% and 13% of the corresponding consolidated balance as of July 31, 2023. Contract asset balances from one major customer represented 70% of the corresponding consolidated balance as of January 31, 2023.

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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 -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent + Details
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