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SEGMENT REPORTING | 9 Months Ended
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Oct. 31, 2024
SEGMENT REPORTING |
SEGMENT REPORTING | NOTE 15 – 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 CODM, 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, 2024, intersegment revenues were $3.5 million and $4.8 million, respectively. For the three and nine months ended October 31, 2023, 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, 2024 and 2023. The “Other” column in each summary includes the Company’s corporate expenses. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
October 31, 2024 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 212,096 | ​ | $ | 41,337 | ​ | $ | 3,575 | ​ | $ | — | ​ | $ | 257,008
Cost of revenues | ​ |  | 173,283 | ​ |  | 36,757 | ​ |  | 2,641 | ​ |  | — | ​ |  | 212,681
Gross profit | ​ |  | 38,813 | ​ |  | 4,580 | ​ |  | 934 | ​ |  | — | ​ |  | 44,327
Selling, general and administrative expenses | ​ | ​ | 8,466 | ​ | ​ | 1,848 | ​ | ​ | 705 | ​ | ​ | 2,976 | ​ | ​ | 13,995
Income (loss) from operations | ​ | ​ | 30,347 | ​ | ​ | 2,732 | ​ | ​ | 229 | ​ | ​ | (2,976) | ​ | ​ | 30,332
Other income (loss), net | ​ |  | 5,618 | ​ |  | 1 | ​ |  | (1) | ​ |  | 1,028 | ​ |  | 6,646
Income (loss) before income taxes | ​ | $ | 35,965 | ​ | $ | 2,733 | ​ | $ | 228 | ​ | $ | (1,948) | ​ |  | 36,978
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 8,968
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 28,010
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 98 | ​ | $ | — | ​ | $ | — | ​ | $ | 98
Depreciation | ​ | ​ | 158 | ​ | ​ | 166 | ​ | ​ | 109 | ​ | ​ | — | ​ | ​ | 433
Property, plant and equipment additions | ​ | ​ | 2,304 | ​ | ​ | 236 | ​ | ​ | 5 | ​ | ​ | 2 | ​ | ​ | 2,547
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | $ | 542,558 | ​ | $ | 50,294 | ​ | $ | 4,236 | ​ | $ | 120,053 | ​ | $ | 717,141
Current liabilities | ​ | ​ | 411,735 | ​ | ​ | 20,663 | ​ | ​ | 2,131 | ​ | ​ | 1,635 | ​ | ​ | 436,164
Goodwill | ​ | ​ | 18,476 | ​ | ​ | 9,467 | ​ | ​ | 90 | ​ | ​ | — | ​ | ​ | 28,033
Total assets | ​ | ​ | 572,828 | ​ | ​ | 67,172 | ​ | ​ | 6,673 | ​ | ​ | 122,191 | ​ | ​ | 768,864
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended | ​ | Power | ​ | Industrial | ​ | Telecom | ​ | ​ | ​ | ​
October 31, 2024 |  | Services |  | Services |  | Services |  | Other |  | Totals
Revenues | ​ | $ | 496,122 | ​ | $ | 134,678 | ​ | $ | 10,905 | ​ | $ | — | ​ | $ | 641,705
Cost of revenues | ​ |  | 422,508 | ​ |  | 117,836 | ​ |  | 7,985 | ​ |  | — | ​ |  | 548,329
Gross profit | ​ |  | 73,614 | ​ |  | 16,842 | ​ |  | 2,920 | ​ |  | — | ​ |  | 93,376
Selling, general and administrative expenses | ​ |  | 21,786 | ​ | ​ | 5,686 | ​ | ​ | 1,984 | ​ | ​ | 8,392 | ​ | ​ | 37,848
Income (loss) from operations | ​ | ​ | 51,828 | ​ | ​ | 11,156 | ​ | ​ | 936 | ​ | ​ | (8,392) | ​ | ​ | 55,528
Other income, net | ​ |  | 14,386 | ​ |  | 2 | ​ |  | 2 | ​ |  | 2,654 | ​ |  | 17,044
Income (loss) before income taxes | ​ | $ | 66,214 | ​ | $ | 11,158 | ​ | $ | 938 | ​ | $ | (5,738) | ​ |  | 72,572
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 18,482
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 54,090
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles | ​ | $ | — | ​ | $ | 293 | ​ | $ | — | ​ | $ | — | ​ | $ | 293
Depreciation | ​ | ​ | 443 | ​ | ​ | 621 | ​ | ​ | 310 | ​ | ​ | 2 | ​ | ​ | 1,376
Property, plant and equipment additions | ​ | ​ | 4,523 | ​ | ​ | 509 | ​ | ​ | 184 | ​ | ​ | 2 | ​ | ​ | 5,218
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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