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SEGMENT REPORTING | 9 Months Ended
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Oct. 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 nine months ended October 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 nine months ended October 31, 2023 and 2022. The “Other” column in each summary includes the Company’s corporate expenses. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
October 31, 2023 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 121,300 | ​ | $ | 38,434 | ​ | $ | 4,021 | ​ | $ | — | ​ | $ | 163,755
Cost of revenues | ​ |  | 107,781 | ​ |  | 33,899 | ​ |  | 2,840 | ​ |  | — | ​ |  | 144,520
Gross profit | ​ |  | 13,519 | ​ |  | 4,535 | ​ |  | 1,181 | ​ |  | — | ​ |  | 19,235
Selling, general and administrative expenses | ​ | ​ | 6,390 | ​ | ​ | 1,626 | ​ | ​ | 608 | ​ | ​ | 2,751 | ​ | ​ | 11,375
Income (loss) from operations | ​ | ​ | 7,129 | ​ | ​ | 2,909 | ​ | ​ | 573 | ​ | ​ | (2,751) | ​ | ​ | 7,860
Other income, net | ​ |  | 3,391 | ​ |  | — | ​ |  | — | ​ |  | 342 | ​ |  | 3,733
Income (loss) before income taxes | ​ | $ | 10,520 | ​ | $ | 2,909 | ​ | $ | 573 | ​ | $ | (2,409) | ​ |  | 11,593
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 6,129
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 5,464
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 98 | ​ | $ | — | ​ | $ | — | ​ | $ | 98
Depreciation | ​ | ​ | 137 | ​ | ​ | 249 | ​ | ​ | 102 | ​ | ​ | 1 | ​ | ​ | 489
Property, plant and equipment additions | ​ | ​ | 583 | ​ | ​ | 497 | ​ | ​ | 31 | ​ | ​ | 1 | ​ | ​ | 1,112
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | $ | 399,489 | ​ | $ | 39,843 | ​ | $ | 3,701 | ​ | $ | 71,038 | ​ | $ | 514,071
Current liabilities | ​ | ​ | 244,662 | ​ | ​ | 25,839 | ​ | ​ | 1,801 | ​ | ​ | 1,592 | ​ | ​ | 273,894
Goodwill | ​ | ​ | 18,476 | ​ | ​ | 9,467 | ​ | ​ | 90 | ​ | ​ | — | ​ | ​ | 28,033
Total assets | ​ | ​ | 426,466 | ​ | ​ | 57,112 | ​ | ​ | 6,519 | ​ | ​ | 73,555 | ​ | ​ | 563,652
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
October 31, 2022 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 90,682 | ​ | $ | 22,137 | ​ | $ | 5,056 | ​ | $ | — | ​ | $ | 117,875
Cost of revenues | ​ |  | 72,725 | ​ |  | 18,737 | ​ |  | 4,205 | ​ |  | — | ​ |  | 95,667
Gross profit | ​ |  | 17,957 | ​ |  | 3,400 | ​ |  | 851 | ​ |  | — | ​ |  | 22,208
Selling, general and administrative expenses | ​ |  | 6,745 | ​ | ​ | 1,823 | ​ | ​ | 796 | ​ | ​ | 3,303 | ​ |  | 12,667
Income (loss) from operations | ​ | ​ | 11,212 | ​ | ​ | 1,577 | ​ | ​ | 55 | ​ | ​ | (3,303) | ​ | ​ | 9,541
Other income, net | ​ |  | 592 | ​ |  | — | ​ |  | — | ​ |  | 176 | ​ |  | 768
Income (loss) before income taxes | ​ | $ | 11,804 | ​ | $ | 1,577 | ​ | $ | 55 | ​ | $ | (3,127) | ​ |  | 10,309
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2,551
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 7,758
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 166 | ​ | $ | 46 | ​ | $ | — | ​ | $ | 212
Depreciation | ​ | ​ | 142 | ​ | ​ | 501 | ​ | ​ | 96 | ​ | ​ | 1 | ​ | ​ | 740
Property, plant and equipment additions | ​ | ​ | 774 | ​ | ​ | 928 | ​ | ​ | 238 | ​ | ​ | 4 | ​ | ​ | 1,944
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | $ | 237,575 | ​ | $ | 31,355 | ​ | $ | 4,076 | ​ | $ | 91,959 | ​ | $ | 364,965
Current liabilities | ​ | ​ | 110,383 | ​ | ​ | 21,560 | ​ | ​ | 1,420 | ​ | ​ | 1,179 | ​ | ​ | 134,542
Goodwill | ​ | ​ | 18,476 | ​ | ​ | 9,467 | ​ | ​ | 90 | ​ | ​ | — | ​ | ​ | 28,033
Total assets | ​ | ​ | 261,994 | ​ | ​ | 48,766 | ​ | ​ | 7,434 | ​ | ​ | 92,709 | ​ | ​ | 410,903
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
October 31, 2023 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 296,821 | ​ | $ | 101,497 | ​ | $ | 10,461 | ​ | $ | — | ​ | $ | 408,779
Cost of revenues | ​ |  | 255,210 | ​ |  | 88,537 | ​ |  | 7,831 | ​ |  | — | ​ |  | 351,578
Gross profit | ​ |  | 41,611 | ​ |  | 12,960 | ​ |  | 2,630 | ​ |  | — | ​ |  | 57,201
Selling, general and administrative expenses | ​ |  | 17,700 | ​ | ​ | 4,532 | ​ | ​ | 2,038 | ​ | ​ | 8,197 | ​ | ​ | 32,467
Income (loss) from operations | ​ | ​ | 23,911 | ​ | ​ | 8,428 | ​ | ​ | 592 | ​ | ​ | (8,197) | ​ | ​ | 24,734
Other income (loss), net | ​ |  | 9,088 | ​ |  | — | ​ |  | (3) | ​ |  | (1,863) | ​ |  | 7,222
Income (loss) before income taxes | ​ | $ | 32,999 | ​ | $ | 8,428 | ​ | $ | 589 | ​ | $ | (10,060) | ​ |  | 31,956
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 11,616
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 20,340
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 294 | ​ | $ | — | ​ | $ | — | ​ | $ | 294
Depreciation | ​ | ​ | 393 | ​ | ​ | 813 | ​ | ​ | 315 | ​ | ​ | 3 | ​ | ​ | 1,524
Property, plant and equipment additions | ​ | ​ | 1,120 | ​ | ​ | 973 | ​ | ​ | 49 | ​ | ​ | 1 | ​ | ​ | 2,143
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
October 31, 2022 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 255,958 | ​ | $ | 67,660 | ​ | $ | 12,644 | ​ | $ | — | ​ | $ | 336,262
Cost of revenues | ​ |  | 202,985 | ​ |  | 56,968 | ​ |  | 9,976 | ​ |  | — | ​ |  | 269,929
Gross profit | ​ |  | 52,973 | ​ |  | 10,692 | ​ |  | 2,668 | ​ |  | — | ​ |  | 66,333
Selling, general and administrative expenses | ​ |  | 18,418 | ​ | ​ | 5,267 | ​ | ​ | 2,369 | ​ | ​ | 8,172 | ​ | ​ | 34,226
Income (loss) from operations | ​ | ​ | 34,555 | ​ | ​ | 5,425 | ​ | ​ | 299 | ​ | ​ | (8,172) | ​ | ​ | 32,107
Other income, net | ​ |  | 1,613 | ​ |  | — | ​ |  | 1 | ​ |  | 254 | ​ |  | 1,868
Income (loss) before income taxes | ​ | $ | 36,168 | ​ | $ | 5,425 | ​ | $ | 300 | ​ | $ | (7,918) | ​ |  | 33,975
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 14,510
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 19,465
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 497 | ​ | $ | 114 | ​ | $ | — | ​ | $ | 611
Depreciation | ​ | ​ | 422 | ​ | ​ | 1,553 | ​ | ​ | 318 | ​ | ​ | 3 | ​ | ​ | 2,296
Property, plant and equipment additions | ​ | ​ | 868 | ​ | ​ | 1,415 | ​ | ​ | 295 | ​ | ​ | 4 | ​ | ​ | 2,582
​

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